"Over the next 10 years, the market for business jet in the Middle East is expected to double its current figure of around 530 registered aircrafts and grow to $1.3 Billion, up 152 percent from the $515 million industry" said Engineer Hashem Jamalallail, General Manager of Arabian Aircraft Services Company, better known as Arabasco.
Arabasco, a leading FBO and MRO in Saudi Arabia , announced their association with the upcoming Kingdom Business Aviation Conference, which will be held in Hail on the 24th and 25th of November, 2015, under the patronage of HRH Prince Saud Bin Abdul Muhsin AI Saud, the Governor of Hail and supported by the General Authority of Civil Aviation (GACA) in Saudi Arabia.
"The overall industry projection by the aircraft manufacturers on the Middle East is very promising and focusing on Saudi Arabia alone, which is recording over 26% of the business aircraft movements in the Middle East and over 60% in the GCC. Arabasco handled over 22,000 movements in its four locations in 2014 accounting for around 60% of the market.
"We see a potential industry growth of 5% a year on year in Saudi Arabia and 80% of the business aviation traffic in Saudi market are handled by Arabasco's FBOs in Jeddah, Riyadh, Medina, and Yanbu. We are focusing more on increasing our technical capabilities to develop our market share in the business aviation MRO market segment which has accounted for 30% of our overall business activities to 50% in the near future"
Engineer Hashem added, "We are delighted to be associated with this conference as a Title Sponsor. We firmly believe this event will bring the regional and international business aviation professionals to the Kingdom of Saudi Arabia and provide a unique networking platform to discuss the business trends, opportunities, issues and solutions while sharing the various experience, knowledge by our counterparts attending from different countries".
-Ends-
About Arabasco
In business since 1982, Arabasco diverse functions include full service FBOs, an FAA Part 145 approved MRO as well as Aircraft Management & Charter, Aircraft Detailing and its own into-plane fueling company (UGAFCO).
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© Press Release 2015
