Tag: executive (Page 15 of 16)

Air Peace Selects E195-E2, Becomes First E2 Operator in Africa

April 4, 2019 / WIL BALDWIN

Port Louis, Mauritius, April 3rd, 2019 –

Embraer has signed a firm order for 10 E195-E2 jets with Air Peace, Nigeria’s largest airline. The order was announced today, during the Embraer’s Africa Airline Business Seminar, in Mauritius. With this order, Air Peace will become the first E-Jets E2 operator in Africa. The contract includes purchase rights for a further 20 E195-E2. With all purchase rights being exercised, the contract has a value of USD 2.12 billion, based on current list prices. The order will be included in Embraer’s 2019 second-quarter backlog.

Air Peace has grown rapidly since it commenced flight operations in 2014 and is now the largest airline in West Africa. The airline intends to address the significant untapped demand in the African market with the E195-E2, the newest, most efficient, and most comfortable aircraft in the segment.

Air Peace Chairman/CEO, Mr. Allen Onyema, said, “Embraer’s new E195-E2 presents us with a marvel of economic performance. It’s also great that we will be the first E2 operator on the African continent. We already have the ERJ145s in our fleet, so we understand the high standards of Embraer products.”

“Air Peace embodies the kind of pioneering spirit that Embraer loves. The airline was established to bring highly skilled work opportunities to the people of Nigeria and to boost connectivity, which in turn significantly contributed to the economy in the region. Air Peace has delivered successfully on both aims, and has become a fast growing successful airline. It’s great to now have them onboard the E2 as well.” said Arjan Meijer, Chief Commercial Officer, Embraer Commercial Aviation.

Meijer continued, “The market in Africa presents significant opportunities for airlines to deliver the connectivity that the whole continent needs. Aircraft however must be right-sized to develop those routes profitably; more than 90% of intra-African flights depart with fewer than 150 passengers onboard. And more than 70% of markets are served with less than one flight per day.”

Air Peace subsidiary, Air Peace Hopper, started operating six ERJ145 last year on short thin routes. That experience with Embraer’s products, and the undeniable economic benefits of right-sizing aircraft for the mission, was a key factor in selecting the E2.

Embraer is the world’s leading manufacturer of commercial jets up to 150 seats. The Company has 100 customers from all over the world operating the ERJ and E-Jet families of aircraft. For the E-Jets program alone, Embraer has logged more than 1,800 orders and 1,500 deliveries, redefining the traditional concept of regional aircraft.

About Embraer

Embraer is a global company headquartered in Brazil with businesses in commercial and executive aviation, defense & security. The company designs, develops, manufactures and markets aircraft and systems, providing customer support and services.

Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. About every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year.

Ryanair Eyes Boeing MAX 10, Airbus for Laudamotion

March 6, 2019 / WIL BALDWIN

BRUSSELS (Reuters) – Ryanair is in early discussions with Airbus about a potential future order for some 100 A321 aircraft for its recently acquired subsidiary Laudamotion, but for now the company is focusing on leased older aircraft, Chief Executive Michael O’Leary said on Wednesday.

The Irish budget carrier is also interested in the latest Boeing narrow-body model – the 737 MAX 10 – for its all-Boeing main fleet “at the right price” but those conditions do not exist currently, O’Leary told Reuters in an interview.

Any future order of Airbus A321s for Austrian unit Laudamotion would most likely “not include fewer than 100 aircraft” including 50 firm orders and 50 options, O’Leary said on the sidelines of an airlines conference in Brussels.

(Reporting by Tim Hepher; editing by Jason Neely)

FILE PHOTO: A Ryanair Boeing 737-800 plane taxis at Lisbon’s airport, Portugal September 27, 2018. REUTERS/Rafael Marchante

Embraer Says Key Vote on Boeing Tie-up May Proceed

February 26, 2019 / WIL BALDWIN

SAO PAULO (Reuters) – Brazilian planemaker Embraer said on Tuesday a key shareholder meeting to vote on the sale of 80 percent of its commercial aviation business to Boeing Co could proceed as scheduled on Tuesday, after it got an injunction overturned.

A federal judge had suspended the meeting on Friday at the request of a union representing some Embraer workers which had lobbied against the deal, partly on concerns Boeing would slash jobs if the tie-up was approved.

Shares in Embraer surged 3 percent in early Sao Paulo trading on news the meeting would take place.

Last-minute legal twists are common in Brazil, and Embraer had already overturned several injunctions that temporarily blocked the deal.

Under the proposed terms, Boeing will pay $4.2 billion to control Embraer’s most profitable division, its commercial aviation business.

The deal will provide a cash influx that the Brazilian planemaker has defended as crucial to its survival as increased competition between Boeing and Airbus squeezes out smaller rivals.

“The potential operation with Boeing will save Embraer,” lawyers for the Brazilian planemaker said in July in a court filing as it battled an earlier challenge to the deal.

But critics say the arrangement will leave Embraer weaker and financially dependent on its two remaining divisions, executive jets and defense, both of which have posted losses in recent quarters.

Foreign shareholders, who own a tiny slice of the company, overwhelmingly voted to approve the deal.

Brazil’s securities regulator late on Monday denied a separate request filed by minority shareholders to suspend the shareholder meeting.

Embraer’s union has vowed to protest the meeting, which will be held at the planemaker’s headquarters in the city of Sao Jose dos Campos. The union’s plans prompted Embraer to seek legal restrictions of its own.

A judge sided with Embraer last week, allowing Brazil’s military police to safeguard the planemaker’s premises while the meeting takes place.

The deal has already been approved by Brazil’s government, which holds veto power over important business decisions at Embraer, which was a state company until its privatization in the 1990s.

(Reporting by Marcelo Rochabrun in Sao Paulo; Additional reporting by Gram Slattery in Rio de Janeiro; Editing by Jason Neely, Keith Weir and Bernadette Baum)

Southwest CEO Says Mechanics Deserve New Contract

February 23, 2019 / WIL BALDWIN

CHICAGO (Reuters) – Southwest Airlines Co’s mechanics, who have been in labor contract talks for more than six years, deserve a new deal that makes them among the best paid in the airline industry, but the low-cost U.S. carrier needs “more supplier flexibility” in return, the company’s chief executive said.

The labor dispute, one of the biggest to hit a top-four U.S. airline in more than a decade, has escalated with Southwest’s daily out-of-service aircraft doubling, forcing the carrier to cancel hundreds of flights since Feb. 15.

Southwest CEO Gary Kelly in an email to the company’s employees acknowledged the company was “in a period of tension and turmoil” regarding the out-of-service aircraft. Reuters obtained a copy of the email late Friday.

Kelly said the mechanics deserve a new contract and pointed out that the deal the mechanics voted down last year would have made those workers the highest paid in the industry. He said current talks offer the opportunity to offer even higher pay with no impact on job security “in exchange for more supplier flexibility.”

Southwest already outsources the majority of heavy maintenance work, such as scheduled engine repairs, to external suppliers, but wants the option to send more scheduled maintenance abroad in order to fund compensation increases. The change would not affect the kind of work currently handled by its mechanics, a Southwest spokesman said.

Officials with the Aircraft Mechanics Fraternal Association (AMFA), which represents about 2,400 Southwest mechanics and has been in contract talks with management since 2012, could not immediately be reached to comment on Saturday.

The union has disputed the notion that the maintenance issues are driven by the labor dispute, pointing out the company has the lowest mechanic-to-aircraft ratio of any major carrier.

In a Friday email to its members, the union rejected the company’s assertion that the maintenance issues were a job action and said mechanics should not allow themselves to be pressured to ignore safety or mechanical issues with a plane.

“If you feel you are being pressured to disregard aircraft damage or shortcut the manuals, then let your airline representative know of such threats,” union national director Bret Oestreich said in the email. “But do not get baited into acts of defiance that will be characterized as insubordination.”

Flights by Southwest accounted for more than a third of 777 U.S. cancellations between Friday and Saturday, according to FlightAware.com.

(Reporting by Tracy Rucinski in Chicago, Additional reporting by Ben Klayman in Detroit; Editing by Andrea Ricci)

Phenom 300 is World’s Most Delivered Light Business Jet

February 22, 2019 / WIL BALDWIN

Melbourne, Florida, February 21, 2019 – Embraer Executive Jets delivered 53 Phenom 300 and Phenom 300E light jets in 2018, according to a report issued by the General Aviation Manufacturers Association (GAMA). This is the seventh consecutive year that the Phenom 300 achieves this mark, having accrued more than 490 deliveries since entering the market in December 2009.

“The Phenom 300’s continued success in the market is a reflection of our commitment to fascinate customers and deliver the ultimate customer experience in business aviation,” said Michael Amalfitano, President & CEO, Embraer Executive Jets. “The revolutionary interior design of the Phenom 300E adds even more value to this already popular model, reaffirming our commitment to continue to invest in true innovation.”

Originally launched in 2005, the Phenom 300 has sustained more than half of the light jet market share since 2012. The aircraft is in operation in more than 30 countries and has accumulated more than 780,000 flight hours. Embraer is continuously investing in the competitiveness of the Phenom 300 with enhancements to its comfort, technology and operational efficiency.

This image has an empty alt attribute; its file name is Phenom_300E_SN414_Interior-1.jpg

In October 2017, the new Phenom 300E was announced and entered service just five months later, in March 2018, and it is the only Phenom 300 model available to be acquired. The new aircraft is designated “E” for “Enhanced” in reference to its entirely redesigned cabin and the addition of the industry-leading nice® HD CMS/IFE (Cabin Management System/InFlight Entertainment) by Lufthansa Technik.

The Phenom 300E inherits the Embraer DNA Design, first introduced in its larger siblings, the Legacy 450 and Legacy 500 midsize jets. The application of this design in the Phenom 300E rendered an even more spacious cabin with more personalization options and greater ease of maintainability.

The revolutionary new interior design of the Phenom 300E starts with the all-new Embraer DNA seats, both designed and manufactured by Embraer. The new seats in the Phenom 300E feature an extendable headrest with bolsters, retractable armrest, broader backs for greater support, and extendable leg rests for improved ergonomics. The new table, side ledge, side wall, and valance design optimizes passenger mobility in the cabin with expanded aisle clearance and increased cabin space, rendering unmatched comfort and personalization in the light jet class.

The Phenom 300E features an industry-exclusive upper technology panel (upper tech panel) along the centerline of the aircraft’s ceiling, significantly improving passenger ergonomics. The innovative upper tech panel presents passengers with pertinent inflight information, while allowing for convenient interaction with cabin management controls, as well as the option of inflight entertainment with audio and video on demand via two slender swing-down seven-inch displays. The unit also offers an enhanced cabin lighting scheme, with a broad range of ambient mood selections, as well as integrates sleek, silent gaspers enhancing acoustic comfort. Bluetooth connectivity also allows passengers to view inflight information on their personal devices.

The Phenom 300E is also the fastest light jet, having established several speed records with the National Aeronautic Association and the Federation Aeronautique Internationale

About the Phenom 300E

The Phenom 300E performs among the top light jets, with a high speed cruise of 453 knots and a six-occupant range of 1,971 nautical miles (3,650 km) with NBAA IFR reserves. With the best climb and field performance in its class, the Phenom 300E costs less to operate and maintain than its peers. The aircraft is capable of flying at 45,000 feet (13,716 meters), powered by two Pratt & Whitney Canada PW535E engines with 3,360 pounds of thrust each.

The Phenom 300E offers a spacious cabin with the Embraer DNA Design and its baggage compartment is among the largest in its category. The largest windows in the class deliver abundant natural lighting in the cabin as well as in the private lavatory. The comfort of the seats, with recline and full movement capability, is enhanced by the best pressurization among light jets (6,600 ft. maximum cabin altitude). The Phenom 300E features distinct temperature zones for pilots and passengers, a wardrobe and refreshment center, voice and data communications options, and an entertainment system.

The pilot-friendly cockpit enables single-pilot operation and offers the advanced Prodigy Touch Flight Deck, based on the acclaimed Garmin 3000 avionics suite. The features it carries from a class above include single-point refueling, externally serviced lavatory, and an air stair.

Gulfstream To Showcase Aircraft At Aviation Africa 2019

February 20, 2019 / WIL BALDWIN

SAVANNAH, Ga., Feb. 20, 2019 /PRNewswire/ — Gulfstream Aerospace Corp. today announced it will showcase the clean-sheet, record-breaking Gulfstream G500 along with the class-leading, super-midsize Gulfstream G280 at the 2019 Aviation Africa Summit & Exhibition from Feb. 27-28 in Kigali, Rwanda. Gulfstream’s exhibition will be at the Radisson Blu Hotel & Convention Centre, and the aircraft will be on static display at Kigali International Airport.

“Gulfstream is committed to customers in sub-Saharan Africa and growing business aviation in the region,” said Mark Burns, president, Gulfstream. “Rwanda has made great investments in business aviation, and we are proud to support those efforts with our presence and static display in Kigali. Whether flying from country to country or intercontinentally, the G500 and G280 offer operators ideal options for this region.”

The award-winning G500 can fly 5,200 nautical miles/9,630 kilometers at its long-range cruise speed of Mach 0.85 and can easily connect Kigali to London at Mach 0.90 or Kigali to Singapore at Mach 0.87. When it entered service in September 2018, the G500 had already achieved 22 city-pair records around the world and currently holds a total of 32 city-pair records. The G500 that will be on display at Aviation Africa is in service with Qatar Airways’ Qatar Executive fleet.

The high-performing and agile G280 can fly 3,600 nm/6,667 km at Mach 0.80, and can travel nonstop from Kigali to Dubai, United Arab Emirates, at Mach 0.84 or Kigali to Bangalore, India, at Mach 0.80. The aircraft can easily access smaller airports, reach high altitudes quickly and offers excellent takeoff and landing performance.

NOTE TO EDITORS

Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (GD), designs, develops, manufactures, markets, services and supports the world’s most technologically advanced business-jet aircraft. Gulfstream has produced more than 2,800 aircraft for customers around the world since 1958. To meet the diverse transportation needs of the future, Gulfstream offers a comprehensive fleet of aircraft, comprising the Gulfstream G280^™, the Gulfstream G550^™, the Gulfstream G500^™, the Gulfstream G600^™, the Gulfstream G650^™and the Gulfstream G650ER^™. We invite you to visit our website for more information and photos at www.gulfstreamnews.com.

More information about General Dynamics is available at www.generaldynamics.com.

Boeing says aircraft demand supports even faster 737 production

February 6, 2019 / WIL BALDWIN

SEATTLE (Reuters) – A top Boeing Co executive said on Wednesday market demand was strong enough to support an even higher production rate of 63 single-aisle 737 aircraft per month but such an increase depends more on suppliers being able to keep up.

The world’s largest planemaker is also looking to remove as much risk as possible from a proposed new mid-sized jet plan by focusing on batting down development costs and applying lessons learned across multiple civil and military programs, Chief Financial Officer Greg Smith told a conference.

Boeing is currently building 52 737 aircraft per month at its Seattle-area factory. Reuters reported this week that Boeing plans to speed up to 57 planes per month in June if it can smooth out supplier delays.

(Reporting by Eric M. Johnson in Seattle; Editing by Chizu Nomiyama)

Image from http://www.boeing.com

18 REASONS TO FLY WITH BRITISH AIRWAYS IN 2019

February 5, 2019 / WIL BALDWIN

British Airways’ new year’s resolution is to provide its customers with even more quality and choice in every cabin on every route – with a £6.5bn investment and 18 great reasons to look forward to flying with the airline in 2019.

Here are some of the reasons to fly with British Airways this year:

New routes. Customers can try out the airline’s new routes to Charleston y’all, with Pittsburgh, Osaka, Kos and Corsica, Ljubljana, Montpellier, among others. It’s the airline’s most extensive route network in more than a decade.
New aircraft. Customers can fly on one of the carrier’s 15 plush new aircraft being delivered this year – including four fabulous A350 aircraft.
A brand-new Club World seat, featuring on the new A350 aircraft, and two 777 aircraft by the end of the year.
WiFi. The best, live streaming WiFi on all short-haul flights and the vast majority of long-haul flights so customers can sit back and enjoy films and TV shows from their favourite streaming service.
A new look for First. New first-class dining, bedding and amenity kits from one of the UK’s best-loved designers.
An industry-leading makeover for World Traveller Plus. Look out for new bedding and new dining in this intimate and exclusive cabin.
New lounges for customers to relax and enjoy ahead of their flight, in San Francisco, Johannesburg, Geneva and JFK.
An extended partnership with premium dining supremo Do&Co, the airline’s new in-flight caterer from Heathrow and already providing meals in Club Europe.
A new ba.com homepage, making booking with British Airways even easier and more intuitive.
New partners for the British Airways Executive Club, offering even more ways to collect and spend Avios.
Digital bag tags. A UK airline first. Sync your personal baggage tag with the BA app, drop your luggage at the airport, and fly.
Self-service baggage drops at Heathrow T3 offering customers the same service as T5.
Facial recognition technology. More biometric technology at Heathrow, London City and Gatwick, New York JFK, Orlando, Los Angeles, Miami and many more. The system makes boarding faster and more convenient, helping British Airways depart flights on, or ahead of time.
New emissions-free, remote-controlled pushback vehicles for long-haul aircraft to continue to improve punctuality. Short-haul versions reduced pushback delays by more than 70 per cent.
New winter equipment – helping British Airways safely de-ice its fleet of almost 300 aircraft quicker than ever during the frosty winter months.
Hotel reservations. Investment in new technology will see rooms automatically booked for customers who miss their flights due to disruption.
Enhanced customer service. Almost 30,000 staff will receive the airline’s all-new customer service training. At T5 – more airport hosts than ever before are being re-trained to manage any customer issue, from re-booking to upgrades, lounge access, baggage and transfer queries and flight information.
And last but not least – look out for British Airways’ Centenary celebrations. It’s going to be 100 years’ old this year, and will be celebrating in style, sharing its heritage and looking at what to expect from flying in the future.

A British Airways 787 Dreamliner G-BBJA flying over Derby ‘s Rolls Royce sites.

Story and image from http://www.britishairways.com

Embraer Presents Preliminary Forecast for 2019 and 2020

January 17, 2019 / WIL BALDWIN

São José dos Campos, Brazil, January 16, 2019 – Embraer today presents its preliminary forecast for 2019 and 2020 at a meeting with investors at the New York Stock Exchange (NYSE). For 2019, Embraer expects to deliver between 85 and 95 commercial jets, 90 to 110 executive jets, including light and large jets, 10 A-29 Super Tucano aircraft and two multi-mission KC390 aircraft. Total consolidated revenues should be between US$ 5.3 billion and US$ 5.7 billion.

The Company expects to achieve a consolidated EBIT margin of breakeven (approximately zero) for the year 2019. It is important to highlight that 2019 guidance includes potential costs and expenses associated with the creation of the Commercial Aviation JV in a strategic partnership between the Company and The Boeing Co. (“Boeing”) under the terms of the associated material facts published by Embraer.

With the finalization and closure of the partnership operation described above, tentatively expected to occur by the end of 2019, Embraer anticipates a capital structure without leverage, with a net cash position of approximately US$ 1.0 billion after the payment of a special dividend to shareholders of roughly US$ 1.6 billion (which remains subject to the confirmation of certain requirements, including the fiscal year results).

During the event in New York, Embraer also presents its guidance for the year 2020, the first year after the potential closure of the operation creating the strategic partnership between Embraer and Boeing in Commercial Aviation, as mentioned above. The guidance presented for 2020 includes 100% of the expected results of the Executive Jets and Defense & Security segments (and the results of their respective services and support businesses) and exclude expected financial results coming from the 20% stake Embraer will have in the Commercial Aviation JV in partnership with Boeing.

Embraer expects to have net revenues of between US$ 2.5 billion and US$ 2.8 billion, EBIT margin of between 2% and 5% and roughly breakeven free cash flow for the year 2020.

2018 Estimates Revision Embraer is revising its 2018 guidance for executive jet deliveries, Revenues, Executive Jet revenues, Defense & Security revenues, consolidated and adjusted EBIT, consolidated and adjusted EBIT margin, consolidated and adjusted EBITDA, consolidated and adjusted EBITDA margin, Free Cash Flow and Investments.

Global market conditions for executive jets, although gradually improving, continue to recover more slowly than expected. In combination, Embraer’s increased focus on improving profitability and price preservation, as well as the recent launch of the new midsize/super midsize executive jets (“Praetors”), which will begin delivering in 2019, led the Company to adopt a more cautious approach towards deliveries in 2018. As a result, Embraer delivered 91 total executive jets in 2018 (compared to guidance of 105-125 jets previously).

As a result of the reduction in executive jet deliveries, the Company now expects revenues in the executive jets segment to be approximately US$ 1.1 billion (previously US$ 1.35 billion – US$ 1.50 billion). In addition, the cost base revision for the KC-390 contract in the second quarter of 2018, resulting from the incident involving prototype 001 in May 2018, negatively impacted revenues for the Defense & Security segment. This impact led to a new projection for revenues for the segment, of approximately US$ 0.6 billion (US$ 0.8 billion – US$ 0.9 billion previously). As a result, Embraer’s consolidated revenues for 2018 are now expected to be approximately US$ 5.1 billion, a reduction from the previous range of US$ 5.4 billion – US$ 5.9 billion.

Guidance for consolidated and adjusted EBIT, consolidated and adjusted EBIT margin, consolidated and adjusted EBITDA, and consolidated and adjusted EBITDA margin for 2018 were lowered due largely to lower fixed cost dilution of the Company as a function of lower executive jet volumes and a decline in Defense & Security revenues. The adjusted values for 2018 exclude the impact of US$ 127.2 million related to the cost base revision of the KC-390 contract in the second quarter of 2018, following the incident involving prototype 001 in May 2018.

Embraer also estimates that its spending on investments for 2018 will be roughly US$ 300 million, below its previous expectation for a total of US$ 550 million. It is important to note that the lower spending on investments has not negatively impacted the Company’s ongoing development projects.

As a result of the lower executive jet deliveries, partially offset by the lower spending on investments in 2018, the Company expects that 2018 Free cash flow will be a use of cash of roughly US$ 200 million (versus a use of no more than US$ 100 million in its previous guidance).

Story and Images from http://www.embraer.com

Saudi Private Jet Industry Stalls After Corruption Crackdown

January 9, 2019 / WIL BALDWIN

DUBAI (Reuters) – A crackdown on corruption in Saudi Arabia has severely dented the kingdom’s private jet industry in a sign of the impact the campaign has had on private enterprise and the wealthy elite.

Dozens of planes, owned by individuals and charter companies and worth hundreds of millions of dollars, are stranded at airports across the kingdom including Riyadh and Jeddah, four people familiar with the matter told Reuters.

Some were handed over to the state in settlements reached after the crackdown was launched in late 2017, when dozens of princes, businessmen and government officials were detained, they said.

Others belong to Saudis who either face travel bans or are reluctant to fly the planes because they are wary of displays of wealth that might be seen as taunting the government over the anti-corruption campaign, two of the sources said.

The government media office did not respond to requests for comment. The General Authority of Civil Aviation said questions on the impact of the anti-corruption drive on the private jet industry were outside its mandate, adding that its relationship with private aviation covers operations, safety and regulations.

The crackdown’s impact on the business community and private enterprise, which are already reeling from low oil prices and weakened consumer confidence, has shattered investor confidence and contributed to a sense of uncertainty around the policies of Crown Prince Mohammed bin Salman.

The idle aircraft, which one of the sources estimated at up to about 70, include Bombardier (BBDb.TO) and Gulfstream jets, the sources said. There are also larger Airbus (AIR.PA) and Boeing (BA.N) aircraft that are more commonly associated with commercial airlines but are often used in the Middle East as private jets.

A Boeing 737 MAX or Airbus A320neo can cost up to $130 million (£102.1 million), though the final cost depends on how the jet is fitted out with technology and amenities, including private bedrooms, meeting rooms, and even gym equipment.

The number of registered private jets in Saudi Arabia stood at 129 as of December 2018 compared with 136 a year earlier, according to FlightAscend Consultancy data.

Private jets offer users flexibility as, unlike commercial airliners, they are not constrained by arrival and departure time slots. They also enable users to travel more discreetly.

UNDER THE RADAR

Saudi Arabia’s finance minister, Mohammed al-Jadaan, said last month the state had collected more than 50 billion riyals (£10.4 billion) from settlements reached under the crackdown.

Most of the detainees held at Riyadh’s Ritz-Carlton Hotel last November were released after being exonerated or reaching financial settlements with the government, which said it aims to seize more than $100 billion in total in either cash or assets.

It is unclear how the government would transfer ownership of the jets grounded across Saudi Arabia as many are owned through offshore firms or are mortgaged, two of the sources familiar with the matter said.

Three of the sources said it was likely that the jets were still registered in the kingdom.

Two of the sources said the government could absorb the aircraft into existing fleets used by ministries and state-owned corporations. A third source said the government had been looking to set up its own private jet company made up entirely of seized aircraft.

The anti-corruption campaign launched by Prince Mohammed has won widespread approval among ordinary Saudis, partly because the government has said it will use some of the funds to finance social benefits.

Critics have said the purge was a power play by the prince as he moved to consolidate power in his hands.

There have been few private jet flights in Saudi Arabia over the past year, largely because there are fewer planes readily available, including for charter, three of the sources familiar with the matter said.

VistaJet Chief Commercial Officer Ian Moore compared it to the situation in China where an anti-corruption crackdown has also weakened the private jet market.

“It’s not really politically great to be seen flying privately at the moment, particularly owning your own aircraft,” he told Reuters.

Some wealthy Saudi elite are taking commercial airlines to the United Arab Emirates, Bahrain and other destinations and then chartering private jets to avoid government scrutiny, two of the sources said.

Plane manufacturers said the appetite for business jet sales in Saudi Arabia has dropped since the anti-corruption crackdown was launched in November 2017.

“Political instability does not help consumer confidence in any way, shape or form,” Embraer Executive Jets Chief Commercial Officer Stephen Friedrich told Reuters.

By Alexander Cornwell. Additional reporting by Allison Lampert in Montreal; Editing by Saeed Azhar and Timothy Heritage.

Image from http://corporatejetinvestor.com

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