According to Global Jet Capital, Saudi Arabia has the largest fleet of private jets in the Middle East, with 144 planes.
Three of 17 private jets owned by Lebanese businessmen are up for sale, London-based company Global Jet Capital has said.
Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, reveals there are around 62 aircraft of this size for sale in the Middle East, with a combined value of around $646.9 million.
The report did not disclose the names of the Lebanese who own the private jets or those whose aircraft are up for sale.
“Some 19 of these [62] aircraft are registered in Saudi Arabia, and 18 are in the United Arab Emirates. The remainder is spread out across the Middle East,” Global Jet revealed in a statement.
The findings show that in total, there are around 559 mid- to large-sized private jets in the region, meaning that around 11 percent of the fleet is currently for sale.
It added that the aviation finance specialist, which recently agreed to purchase the aircraft lease and loan portfolio of GE Capital Corporate Aircraft in the Americas representing approximately $2.5 billion of net assets, has around $1 billion to lend to clients to purchase relevant business aircraft in the Middle East and elsewhere around the world.
“The aircraft Global Jet Capital funds typically cost between $25 million and $75 million each, and it says up to 80 percent of the funding used to purchase these is sourced through external financing,” the statement said.
Shawn Vick, executive director of Global Jet Capital said: “Over the long term we expect to see growth in the sale of mid- to large-sized business jets in the region, and we are well positioned to meet the finance demand to help facilitate this.”
“Many potential clients will be looking to upgrade to a more modern aircraft, but as the region’s wealth increases, we expect to see more first-time buyers,” he added.
According to the table provided by Global Jet Capital, Saudi Arabia has the largest fleet of private jets in the Middle East with 144, followed by Turkey’s 108, UAE’s 97, Kuwait’s 27, Iran’s 26, Qatar’s 24, Jordan’s 21, Lebanon’s 17, Oman’s 15 and Bahrain’s 12.
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