Meba 2008 Opens To Annoucements Worth More Than $1.2bn

Strong jet orders tell positive story at region's biggest business aviation show

The Middle East Business Aviation (MEBA) show opened on a high today (Sunday) with HE Sultan Bin Saeed Al Mansoori, Minister of Economy and Chairman, General Civil Aviation Authority, forecasting robust growth in the Middle East charter jet market despite the global slowdown.
And HE Al Mansoori's positive message was backed up when over US$1.2bn of announcements were made in the first three hours of the show, which smashed the 2007 event's figures by 50 percent.
The largest of the day was by the Al Jaber Group which declared its intention of becoming the newest VIP charter operator to join the ranks with an initial investment of $1.2bn, representing a fleet of 21 aircraft from Embraer and Airbus.
HE Al Mansoori assured gathered press and exhibitors at MEBA, which is organised by F&E Aerospace on behalf of the Middle East Business Aviation Association (MEBAA) - of the UAE government's commitment to growing the industry through state-of-the-art facilities and the emirates' open skies policy.
"The GCC region is now emerging as a powerful economic block. The $1trillion GCC economy is a centre-point on the global financial map and this growth supports the travel business, with the aviation sector making considerable inroads. Business aviation traffic in the UAE is witnessing steady and healthy growth and is estimated at 1,300 movements monthly," said HE Al Mansoori, adding that the regional private jet industry was expected to grow from $500m to $800m annually by 2012.
HE Al Mansoori also acknowledged that the current global climate may impact executive air travel but said the shifting of the aviation community leadership to the Middle East, coupled with unique business, commercial and economic dynamics and demand for air travel, would provide financial immunity to the regional aerospace sector.
"The Middle East in general, and the Gulf States in particular, resemble a healthy market for business aviation aircraft," he said, adding that globally there are approximately 4,900 companies that own and operate more than 6,000 business aircraft, resulting in the creation of 16 million jobs.
HE Al Mansoori further reiterated that the UAE government was committed to supporting industry demands and appealed to industry players to be flexible in a changing financial climate.
"While I am most confident of continued growth, I urge the business aviation community to be aware of the fact that the current pool of aviation human resources will shrink. This is one of the most difficult challenges facing the industry.
"Another concern is illustrated by the need to join forces with the rest of the global aviation community to find solutions to control emission trading and the development of green airports, especially for general and business aviation," he said.
The first day of MEBA show, which features a record-breaking 250 exhibitors and ends on Tuesday at Dubai Airport Expo, saw wide-spread deal announcements from major regional and international companies.
Alison Weller, Director, F&E Aerospace - the company behind many of the region's top aerospace exhibitions including MEBA 2008 and the Dubai Airshow, said the announcements on day one were indicative of a healthy industry.
"The numerous good-news stories that we have seen on the first day at MEBA 2008 demonstrate the robust state of the executive travel industry. The fact that Al Jaber Group is launching a new aviation brand should give industry players and watchers added confidence in the long-term future of this market," she said.
On day one, Cessna confirmed it had received an order for a Citation Sovereign from Arab Wings of Jordan and made good on the delivery of the same aircraft to Sovereign Jet, with the Abu Dhabi-based company considering the addition of a third plane to its fleet.
Cessna, in line with a trend that is seeing many companies look to the Middle East for continued growth, named Wallan Aviation in Riyadh, Saudi Arabia, as an Authorised Citation Service Centre for the region as well as TANEJA Aerospace & Aviation Ltd in India and Kinch Aviation in Nottinghamshire, England.
Meanwhile Embarer confirmed it had signed deals worth more than $208m to deliver two Legacy 500 Jets to Falcon Aviation Services, two to Asaig Aviation as well as four Legacy 450s and four Legacy 500s to new Al Jaber Aviation.
More than 5,000 visitors are expected at MEBA 2008, more than 50 per cent more than were recorded in 2007, and more than 70 aircraft are exhibited in the static display area.
The show is for trade visitors only, and opens from 10am-5.30pm.