The business of… Private air travel
Middle East execs are disregarding those nagging fears about corporate excess, and are choosing to travel abroad in style.
May 11, 2010 3:39 by kippreport
The image of private jet travel took a beating during the financial crisis, as pundits and politicians lashed out at highflying corporate execs. Private air travel became synonymous with the corporate excesses of distressed companies, with the shareholders often left picking up the costs of such extravagances.
But industry analysts say that private aviation will ride the wave, with rising company profits and share prices lending vigor to the industry.
The wider aviation industry is betting big on the business jet travel sector, too. Analysts expect it will lead the resurgence of the aviation sector in the GCC, with the business jet market in Saudi Arabia and the UAE at the fore, according to new research by Frost & Sullivan.