Middle Eastern private jet demand takes off
Airbus has sold six wide-body jets for at least $1.4bn (€900m) to a Middle East company in the first deal of its kind, as demand for luxury aircraft in the high-growth region soars.
Airbus said in a press release this morning it received an order for six luxury Airbuses from Middle Eastern company MAZ Aviation. These will join the back of a 350-order queue for the Airbus 350 XWB.
“The kind of private customer that buys a VIP wide-body wants the very best, and that’s exactly what they get with the Airbus A350 XWB Prestige,” says MAZ Aviation Chairman Mohammed Al Zeer. “With more cabin space, more range and a more modern design, the Airbus A350 XWB is the VIP widebody of the future.”
All six Airbus A350 XWBs will feature VIP cabins, and be powered by Rolls-Royce Trent XWB engines, according to Airbus. The choice of cabin outfitters has yet to be revealed. A source with knowledge of the industry said cabins can cost up to about $190m to fit.
Airbus said the average list price of an A350-800 XWB is $209m and of an A350-900 XWB is $240m, without interiors. However, depending on interiors, this could vary. Five A350-900s and one A350-800 were sold to MAZ Aviation.
The news comes as appetite for private jets from Middle Eastern individuals and corporates swells.
Mary Schwartz, global head of aircraft finance at Citigroup, said: “I can’t believe the astronomical rate of growth from Middle Eastern customers. From almost nothing two years ago we are now doing up to 30% of our business over there, and it doesn’t show signs of slowing."
She added: "Our Middle Eastern clients generally buy the large cabin, long range corporate jets or they buy commercial jets such as Airbus or Boeing, and they configure them for private use. Private jets have become so popular in the region because of the globality of many Middle Eastern businesses."
del.icio.us
Digg
Newsvine
reddit
StumbleUpon