Gulf businessmen spend up to twice as long in private jets as their counterparts in Europe, according to a new study.
The poll by Private Jet Charter showed that the average number of hours a UAE businessman flies on a private jet is between 100 to 150 hours per year while Saudi execs spend up to 200 hours.
The company which has a sizable market share in Europe and the Middle East, said that UK and European businessmen fly a lot less (between 50-100 hours) on private jets due to the economic downturn in the region.
The benchmarking study revealed that Saudi businessmen travel the most in the Middle East due to the country’s vibrant economy and vast size, said Hugh Courtenay, founder and chief executive, PJC.
“They tend to fly more on domestic routes by private jet. The availability of commercial options on domestic routes is limited countrywide, so the private jet option is the most practical solution.”
Ross Kelly, managing director for Middle East, PJC added: “There is a growing market for air charters in the Gulf compared to other developed markets such as the UK. Also, Gulf businessmen are more attuned to the concept of using a charter instead of buying a jet as they consider it financially more feasible.”
Kelly said his company advises clients in the GCC that only flying 300 hours or more would justify investing in a jet rather than chartering.
The average business jet flies about 400 hours per year, according to statistics compiled by the National Business Aviation Association.
PJC has a network of offices in the UK, Nice and significant presence in the Middle East, through a base in Dubai and strong presence in Jeddah. The organisation also has offices in the key charter hubs of Moscow and Florida.