Dubai: Royal Jet, the Abu Dhabi-based private jet operator, is finalising an order for new aircraft with at least two manufacturers, according to its president and chief executive, Shane O’Hare.
Royal Jet announced a tender at the Dubai Airshow last year to replace six Boeing Business Jets (BBJs), two short-range Gulfstream G350s and a medium range Learjet 60.
“We have made our decision,” O’Hare said on Monday on the sidelines of a press conference in Dubai.
Royal Jet was expected to finalise the order for seven aircraft at a cost of $700 million (Dh2.6 billion) in the second quarter.
”These are very complex deals because we are dealing with large aircraft and smaller aircraft, so there are different manufacturers involved,” O’Hare said.
In February, O’Hare said Royal Jet was in discussions with Bombardier, Boeing and Airbus to replace its long-range fleet.
Part of the fleet announcement will also be an expansion of the company’s medevac services, which currently makes up 21 per cent of Royal Jet’s total business, O’Hare said.
He also confirmed that the UAE banks will fund Royal Jet’s new fleet acquisition. “We are very comfortable with UAE financing,” O’Hare said.
He said earlier this year that he favoured bank financing though was considering leasing options.
On year-to-date performance, O’Hare said that after a “relatively flat” start to the year and a “normal summer pattern not seen since the start of the global financial crisis”, Royal Jet is in line to meet its target of 4 per cent growth this year.
“We are very buoyant,” he said. Royal Jet, a private company, does not release its financials.
