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Al Habtoor Group acquires aircraft to be managed by Royal Jet

United Arab Emirates: Tuesday, July 08 - 2008 @ 14:42

UAE-based Al Habtoor Group is a large business conglomerate involved in the construction, hotel, automotive, real estate, education, insurance and publishing sectors. They selected Abu Dhabi-based Royal Jet – the international luxury flight services company, chaired by H.E. Sheikh Hamdan bin Mubarak Al Nahyan – to carry out due diligence on the purchase agreement, prepared the technical specifications and conducted the associated financial, commercial and technical reviews.

Royal Jet’s management and acquisition team provides a tailored, comprehensive service from initial consultancy through to the acquisition, management and sale of aircraft – a ‘one-stop’ service which reduces overall costs without compromising quality or safety. In this deal Royal Jet will also handle the aircraft management of the new Embraer which ties in well with the company’s strategy of concentrating on mid-to-large sized business jets.

Al Habtoor’s CEO, Mohammed Al Habtoor said there was a strong synergy between the two companies. “We regard Royal Jet as a reliable partner, and with their being the undisputed leading private jet operator, we have had a long standing relationship with them. We have a great deal of confidence in their expertise in this area as well as in the maintenance and handling of large business jets,” he said.

Present at the handover signing ceremony in Dubai were CEO Mohammed Khalaf Al Habtoor and Executive Director Maan Halabi representing the Al Habtoor Group, Royal Jet’s President and CEO Shane O’Hare together with CFO Ramzi Zaroubi, and Tony Fitzpatrick for Embraer.

Shane O’Hare explained that aircraft management was an important part of the Royal Jet business. “This is the third such deal in the past six months that Royal Jet has concluded with both private owners and successful companies such as Al Habtoor. Aircraft management is one of the cornerstones of Royal Jet’s strategic five year plan in developing both its own fleet, and managing other aircraft.”

The Embraer Lineage 1000, which was only announced to the world in May 2006, is an ultra large business jet designed to seat up to 19 passengers. It has a range of 4,200 nautical miles – enough to fly directly from the UAE to London – and can fly at 41,000 ft. The interior divides into five separate zones, and this particular aircraft will incorporate a bedroom as part of its overall scheme, whose interior was designed by award winning Priestman Good.

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Tuesday, July 8- 2008 @ 14:42 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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