National Air Services (NAS), the leading aviation company in the Middle East, revealed today from its headquarters in Riyadh the company will expand its fleet by adding more than 75 aircrafts bringing its size to over 100 aircrafts by 2010.
With investments of over US $2 billion, the company’s initial acquisition will include Airbus, Gulfstream and Raytheon. The selection of aircrafts, in terms of seating capacity and haul range, will be determined by the very specific needs of each business unit.
According to senior company officials the aircrafts’ acquisition will be financed by leading Saudi, regional, and international financial and leasing institutions.
Ayed Al Jeaid, NAS chairman, said that the company’s fleet plans are reflective of its ongoing success and the growing demand on the company's different aviation units. “It is also in line with NAS ambitious business strategy to diversify its business portfolio and to tap on new markets,” said NAS chairman.
The additional aircrafts will include the core fleet for NAS’s newly licensed domestic carrier to be launched by early 2007. In addition it will be used to expand its highly successful Aircraft Fractional Ownership and Leasing program (NetJets) and Al- Khayala Airlines.
Known across the Middle East as the leading provider of private aviation services, NAS has recently expanded its business lines to include commercial aviation services. In 1994, the company launched Al Khayala Airlines, a business travel category which is new to the region. On December 6, 2006, NAS became the Kingdom’s first private sector company to be awarded an air transport license from the capital Riyadh.
“The company is expanding its target base to include a wide range of customers with varying needs and providing them with innovative services and tailor-made solutions, all delivered at the highest service levels by committed employees,” said Ayed Al Jeaid, NAS chairman. “In the process, NAS delivers value to shareholders.”
According to recent market research, the growth in the aviation industry in the region stems from booming regional economies, increasing wealth, and the ongoing deregulations of many regional aviation markets. “This creates attractive opportunities for NAS,” said Al Jeaid. "The overall growth of the Middle East aviation and travel markets have been the catalyst of our significant expansion plan".
NAS has recently completed a thorough reengineering process marked by the appointment of Mr. Taher Agueel as CEO and a team of world-class aviation experts to occupy senior management positions.
Since its establishment in 1999 by a group of Saudi investors, National Air Services (NAS) has become the leading provider of aviation services in the Middle East. From its base in Riyadh, the company provides its vast array of customers in the region with complete and innovative aviation services.
The products and services offered include NetJets Middle East (Aircraft Fractional Ownership & Leasing), Aircraft Management Services, Aircraft Charter Services, Al Khayala Airlines which targets business and first class travelers, other unique aviation solutions and soon a commercial no-frills carrier.
NAS has the fastest growing private aviation fleet in the Middle East currently comprising more than 33 aircrafts under management from global manufacturers, which include Airbus, Boeing, Gulfstream, Dassault and Raytheon.
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