LE BOURGET, France, June 19 (Reuters) – Wizz Air will use 20 new extended-range, narrow body Airbus jets primarily to connect existing destinations in its disparate network rather than to fly to new places, the budget airline’s Chief Executive Jozsef Varadi said on Wednesday.
Indigo Partners, the private equity firm of veteran low-cost airline investor Bill Franke, agreed on Wednesday to acquire 50 of the new long-range version of Airbus’ A321neo jet, 20 of which will go to Wizz.
Wizz, which operates a fleet of 113 Airbus A320 and Airbus A321, would not need to change its operating model to accommodate the new A321XLR jets, Varadi said, as it would be able to fly essentially the same planes a little longer.
“Our network spans from the Canary Islands to Astana in Kazakhstan, from Reyjavik in Iceland to Dubai,” Varadi told Reuters after the announcement at the Paris Airshow.
“The XLR gives use the opportunity to connect more dots in our existing network. This is what we’re looking at.”
Airbus opened the Paris Airshow with the launch of the A321XLR, but the announcement was overshadowed on Tuesday when Boeing said British Airways-owner IAG intended to order 200 of its grounded 737 MAX jets.
Hungary-based Wizz, which is focussed on central and eastern Europe, said it had used existing option positions to secure the deal for the A321XLRs, bringing the airline’s total of outstanding firm orders for Airbus aircraft to 276 jets.
Varadi said that in the longer term, it was possible the jet would help open routes to new destinations, but it was not a priority.
“We have always been excited about planting new flags in new territories,” Varadi said. “But the vast majority of the XLR capacity will come in existing markets.”
(Reporting by Alistair Smout; Editing by Mark Potter)
DUBAI (Reuters) – Oman Air CEO Abdulaziz Al Raisi plans to hold talks with Airbus if Boeing does not provide a support and recovery plan for its grounded 737 MAX planes before June 17, a statement by the Omani company said on Friday.
“The grounding of the 737 MAXs has had a major financial impact on Oman Air,” the statement cited Raisi as saying.
“The airline’s expansion plans for 2019 had been significantly curtailed” and Oman Air “also suffered revenue losses and market share declines,” he added.
The Oman Air CEO said Boeing ”promised a recovery and support plan for Oman Air that would be submitted to the airline before the upcoming Paris Airshow starting on 17th June 2019.”
“If I don’t hear back from Boeing before I arrive at Le Bourget Airport, then I will have to go ahead with my planned business lunch with Airbus at the airshow,” the Oman Air statement cited Raisi as saying.
(Reporting by Alex Cornwell; writing by Maher Chmaytelli. Editing by Jane Merriman)
DUBAI (Reuters) – Emirates will “work smart and hard” to improve its performance after the Gulf airline’s profit hit a decade low as soaring fuel costs and a strong dollar took a toll on earnings, while passenger growth stalled.
After years of growth, during which it has become one of the world’s biggest airlines as other long-established national carriers have struggled, Dubai-based, state-owned Emirates warned last week profit would be lower than previous years.
It revealed just how badly it had fared on Thursday, reporting a 69 percent fall in net profit to 871 million dirhams ($237 million) in the year to March 31.
Meanwhile, the number of passengers flying Emirates rose 0.2 percent to 58.6 million, its weakest growth rate in at least 15 years, while cargo increased 1.4 percent to 2.7 million tonnes.
Chairman Sheikh Ahmed bin Saeed al-Maktoum said in a statement that the year had been “tough”, with higher oil prices, a strong dollar and stiffer competition, adding “our performance was not as strong as we would have liked”.
While revenue at the airline rose 6 percent to 97.9 billion dirhams, its profit fell to its lowest level since 2009. And profit at Emirates Group, which includes other units, fell 43.7 percent to 2.3 billions dirhams, its lowest since 2012.
Despite the profit fall, Emirates said it will pay the Investment Corporation of Dubai a dividend of 500 million dirhams for the year.
“SMART AND HARD”
Sheikh Ahmed said it was difficult to predict the year ahead but Emirates would “work smart and hard to tackle the challenges and take advantage of the opportunities.”
Unfavorable currency moves in key markets cost Emirates $156 million, while operating costs rose 8 percent with the airline recording its biggest ever fuel bill of 30.8 billion dirhams.
Emirates filled an average of 76.8 percent of passenger seats, slightly lower than the previous year, while increasing the number of available seats by 4 percent.
Fare increases helped Emirates register a 3 percent increase in passenger margin, despite it filling fewer seats.
The number of airline employees fell by 2,074, or 3.3 percent. Overall group workforce rose 1.9 percent to 105,286.
Emirates agreed with Airbus in February to cancel dozens of A380 orders and buy smaller A350’s and A330’s as the planemaker scrapped production of the world’s largest passenger jet.
Emirates, which will take 14 more A380’s between this year and the end of 2021, is developing a new route network for a fleet that will include smaller aircraft, it said last week.
Reporting by Alexander Cornwell; Editing by Kirsten Donovan and Alexander Smith
FILE PHOTO: Emirates Airline Boeing 777-300ER planes are seen at Dubai International Airport in Dubai, United Arab Emirates February 15, 2019. REUTERS/Christopher Pike/File Photo
Fiji Airways has adopted the A350 XWB as part of its expansion plans to broaden its international network. Two A350-900s will be leased from Dubai-based DAE Capital, making Fiji Airways the newest operator and DAE Capital the latest customer.
With its common type rating with the A330 Family, the A350 XWB was the natural aircraft choice to seamlessly join the airline’s existing fleet of four A330s. The common rating between the A350 XWB and A330 means that pilots who are qualified and current on the A330 can already commence preparations to take the A350 XWB’s controls by undergoing “differences training” only, meaning a significant cost savings and operational flexibility.
The aircraft will be configured with 33 full lie-flat Business Class and 301 Economy Class seats. The aircraft will be deployed to enhance existing long-haul services between Fiji, Australia and the U.S., and to provide the opportunity to open additional routes.
The A350 XWB is the world’s most modern and eco-efficient aircraft family shaping the future of air travel. It is the long-range leader in the large widebody market (300 to 400+ seats). The A350 XWB offers by design unrivalled operational flexibility and efficiency for all market segments up to ultra-long haul (9,700 nm). It features the latest aerodynamic design, carbon fibre fuselage and wings, plus new fuel-efficient Rolls-Royce engines. Together, these latest technologies translate into unrivalled levels of operational efficiency, with a 25% reduction in fuel burn and emissions. The A350 XWB’s Airspace by Airbus cabin is the quietest of any twin-aisle and offers passengers and crews the most modern in-flight products for the most comfortable flying experience. At the end of March 2019, the A350 XWB Family had received 890 firm orders from 50 customers worldwide, making it one of the most successful widebody aircraft ever.
DUBAI
(Reuters) – State-owned Qatar Airways on Thursday dismissed concerns
its 49 percent stake in Air Italy breaches a 2018 aviation agreement
between the United States and Qatar, designed to address U.S. concerns
that Gulf airlines had an unfair competitive advantage.
The
U.S is “looking very closely” at the deal after Republicans and
Democrats said on Wednesday they were concerned it violated the
agreement.
Qatar
Airways bought a stake in Italian airline Meridiana in 2017, rebranded
it Air Italy and transformed it into a carrier with five announced
non-stop U.S. destinations from Milan.
Qatar
Airways said the stake was “fully compliant” with the 2018 U.S.-Qatar
Understandings, an additional pact that accompanied the U.S-Qatar Open
Skies agreement.
Since 2015 the largest U.S carriers – Delta Air Lines, American Airlines Group and United Airlines – have argued their Gulf rivals are being unfairly subsidized by their governments, distorting competition.
Gulf
airlines have always denied those accusations and last year separate
voluntary agreements were reached between the U.S. and Qatar, and the
U.S. and the United Arab Emirates to address the concerns. Measures
included the airlines not adding new flights to the U.S.
However,
Air Italy has been flying to New York and Miami since June last year
and was due to start serving San Francisco and Los Angeles from this
month and Chicago in May.
Qatar
Airways said in a statement its investment in Air Italy, which closed
in September 2017, preceded the 2018 agreement but complied with it.
It
said its investments in other airlines were not raised as a point of
concern during the discussions that led to the 2018 agreement and that
the deal does not mention or prohibit cross-border investments.
Qatar Airways also said it did not codeshare on Air Italy’s flights to the U.S. and has no plans to do so.
(Reporting by Alexander Cornwell; Editing by Alexandra Hudson)
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.
PARIS/DUBAI (Reuters) – Dubai’s Emirates is exploring switching some orders for the world’s largest jetliner, the Airbus A380, to the smaller A350 in a move raising new doubts about the future of Europe’s superjumbo, people familiar with the matter said.
The Gulf carrier, which has invested tens of billions of dollars in more than 100 A380s, has been struggling to finalise a deal to buy another 36 to keep assembly lines open, due to differences with engine maker Rolls-Royce.
Now, Airbus is looking closely at closing A380 factories sooner than expected as part of a reshuffle of orders, with Chief Executive Tom Enders unlikely to leave the situation unresolved when his mandate ends in April, they said.
A person familiar with the matter said Airbus was looking “extremely seriously” at setting the timetable for a shutdown but said no decision had been taken.
Airbus said in a statement after Reuters first published news of the talks that it “confirms it is in discussions with Emirates airline in relation to its A380 contract”. But it said details of negotiations were confidential.
Emirates and Rolls-Royce declined to comment.
Emirates announced the deal for up to 36 aircraft worth as much as $16 billion (£12 billion) at list prices a year ago, throwing a lifeline to the programme’s roughly 3,000 workers and securing its future for at least another decade.
The airline is an ardent supporter of the jet, which was designed with luxury features like bars and showers.
But sales of four-engined planes are tumbling as many airlines switch to smaller twin-engined jets like the A350 and Boeing 777 due to improvements in range and efficiency.
A year-long impasse between Emirates and Rolls-Royce over shortfalls in fuel savings has so far blocked the order.
Airbus is trying to broker a complex workaround which could see Emirates take smaller jets also powered by Rolls-Royce while it tries to secure homes for as many A380s as possible, with British Airways recently expressing interest.
Airbus has dangled the prospect of closing A380 production before, and industry sources say such manoeuvres can be a negotiating tactic to force the feuding parties to agree.
But time is running out for the A380 with few airlines willing to spend the sums invested by Emirates, which has made it a backbone of its global network alongside the Boeing 777.
The production line is “untenable”, a senior industry source said
A decision by Emirates to order the A350 would offer a respite for Airbus and its main engine partner Rolls-Royce after the Gulf carrier axed an order for the A380 in 2014.
Airbus and Rolls are keen to maintain a foothold with the Gulf carrier and prevent Boeing filling the gap with more of its General Electric-powered 777s.
(Reporting by Tim Hepher and Alexander Cornwell; Editing by Michel Rose and Edmund Blair)
Caesars Republic Scottsdale to Break Ground in Second Half 2019
LAS VEGAS, January 28, 2019 – Caesars Entertainment Corporation (NASDAQ: CZR), the world’s most diversified casino-entertainment company today announced plans to open Caesars Republic Scottsdale, its first non-gaming hotel in the United States, as part of its plan to expand its brands and loyalty network through its licensing strategy.
Caesars Republic Scottsdale will be located adjacent to the region’s premier luxury retail destination, Scottsdale Fashion Square, and will be a four-star hotel developed by HCW Development and operated by Aimbridge Hospitality. Caesars Entertainment will license its brand, advise on design elements and integrate the industry’s leading loyalty network Total Rewards.
“Caesars Republic Scottsdale represents the introduction of a new world class brand and further progress on our strategy to expand our non-gaming business into premier destinations,” said Caesars Entertainment President and Chief Executive Officer, Mark Frissora. “This project will be our first non-gaming asset in the United States and demonstrates the global strength of the Caesars brand. We look forward to partnering with HCW Development and Aimbridge Hospitality to create a world-class experience in one of the nation’s most desirable communities.”
This modern 11 story glass structure with 266 rooms will be developed at the intersection of North Goldwater and East Highland Avenue. This high-profile location will allow the Caesars Republic Scottsdale guests the ability to walk to the state’s most elegant mall.
The interior décor will feature rich textures and strong architecture, juxtaposing soft curves and bold accents in a chic and classy lobby, with designs curated throughout the guest rooms. The first-floor bar will be the spot for an after-work cocktail or glass of wine after a day of shopping. The signature restaurant will feature a sophisticated, high-energy environment that will synergize with surrounding trade areas, catering to both locals and hotel guests alike. There will be an abundance of outdoor seating on the patio with fantastic views of Camelback Mountain. In addition, there will be a coffee shop, ideal for a casual business breakfast or as a grab-and-go option for those on the run.
The guest room experience will set the standard for rooms and amenities in Scottsdale. In addition to the mixture of kings, double queens, one and two-bedroom suites, the hotel will also feature a bridal suite, and on the 11th floor, five luxury entertainment suites. On the second floor, there are five breakout rooms which will accommodate up to 40 people each or can be opened for events up to 200. The second-floor executive board room is capable of seating 16 at a permanent table.
Caesars Republic Scottsdale will house a 7,000-square foot column-free ballroom with 34-foot sliding glass doors which open out onto the adjacent lawn, suitable for outdoor events for up to 600 people. The ballroom is divisible into four sections and can accommodate banquets up to 500. The ballroom’s LED lighting system will allow event organizers to customize the look and feel of their event with the ability to change the ceiling color. Additionally, the ballroom will feature a cutting-edge sound, internet and audio-visual system.
The most stunning part of Caesars Republic Scottsdale will be the 7th floor, encompassing a rooftop pool and bar – the only rooftop pool in Scottsdale – featuring breathtaking views of Camelback Mountain. The pool will host activities such as yoga at 9 and champagne at 11. The rooftop bar will feature specialty drinks by HCW’s award-winning mixologist. There will be weekend brunches and lively afternoon energy year-round. This area will also serve as private event space for exclusive groups or company events. Adjacent to the pool will be the hotel’s state-of-the-art fitness center.
“We are very excited to work alongside our new partners to introduce the Caesars Republic brand to the world,” said Richard Huffman, Chief Executive Officer and President of HCW Development. “Scottsdale is a vibrant community and we are confident that this high-end facility will provide a truly unique and dynamic experience to both locals and guests traveling from afar.”
Caesars Republic offers a new kind of lifestyle hotel experience; the first brand from Caesars Entertainment designed exclusively for non-gaming hotels. Caesars Republic is a brand with an edge: it inspires the imagination, pushes creative boundaries, and collaborates with trendsetters.
The brand pays homage to the dynamic energy of Las Vegas – celebrating rebellious spirits and beckoning its guests to unleash their alter egos. Just as all republics are social in nature, Caesars Republic incorporates thoughtful details and brand rituals to facilitate connections among its guests.
No two hotels within the brand will be exactly alike – everything from the décor to the culinary offerings are inspired by local traditions and tastemakers. Caesars Republic taps into the unique pulse of each host city, amplifying its energy and culture.
“We are honored to partner with Caesars Entertainment and add a hotel with the iconic Caesars brand to our management portfolio,” said Aimbridge Hospitality President and Chief Operating Officer, Robert Burg. “We share Caesars’ commitment to operating excellence and look forward to managing Caesars Republic Scottsdale.”
Scottsdale is an ideal market for the introduction of the Caesars Republic brand. Scottsdale hosted an estimated 4.5 million overnight visitors and 4.4-million-day trip visitors in 2017. Caesars Republic Scottsdale will be located just north of Scottsdale Fashion Square. Owned and operated by Macerich (MAC), Scottsdale Fashion Square features an elevated luxury wing anchored by Neiman Marcus, plus a new flagship Apple, and more than 200 shopping and dining options including market exclusives Saint Laurent and a recently announced Nobu.
“Our market-dominant Scottsdale Fashion Square is the natural home for the innovative new Caesars Republic hotel concept,” said Ed Coppola, President, Macerich. “The addition of this exciting new hotel is part of the next phase of development for our exceptional mixed-use property, which also will introduce Class A office space and upscale residences to bring even more value to this one-of-a-kind destination.”
This announcement follows the late 2018 opening of Caesars Entertainment’s two beachfront luxury resorts and beach club on Meraas’ Bluewaters Island in Dubai. Additionally, Caesars announced plans last year to develop a non-gaming Caesars Palace resort along the coast of Puerto Los Cabos, Mexico.
About Caesars Entertainment Corporation
Caesars Entertainment is the world’s most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment’s resorts operate primarily under the Caesars®, Harrah’s® and Horseshoe® brand names. Caesars Entertainment’s portfolio also includes the Caesars Entertainment UK family of casinos. Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. Caesars Entertainment is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment. For more information, please visit, visit www.caesars.com/corporate.
Project team currently includes BRP Architect firm out of Springfield, MO; Studio 11 Interior Design from Dallas, Texas; Transaction handled by LeDonna Spongberg of CBRE’s Phoenix office.
PARIS (Reuters) – Europe’s Airbus lost out to Boeing in 2018, breaking a five-year winning streak against its U.S. rival for the number of jet orders, slumping to its lowest share of the $150 billion jet market in six years, data showed on Wednesday.
Airbus posted 747 net 2018 orders, down 33 percent from the previous year, including 135 for the A220 jetliner which it took over from Canada’s Bombardier in July. Boeing beat Airbus for the first time since 2012 with 893 net orders.
Airbus delivered 800 jets, up 11 percent, including 20 of the small A220 model, leaving Boeing as the world’s largest planemaker by manufacturing volume for a seventh straight year.
Although Boeing missed its delivery target and Airbus had previously lowered its target due to strains on the industry’s global supply chain, strong demand for passenger jets expanded total deliveries by 8 percent, the fastest pace in six years.
Planemaking chief Guillaume Faury welcomed the deliveries, which set a company record, and a “healthy order intake,” with waiting lists for many new jets stretching for up to 7 years.
Insiders say the quest for new business has, however, been overshadowed in the past year by industrial problems, management changes and morale problems coinciding with a corruption probe.
A resurgent Boeing has been cashing in on greater availability and declining costs for its 787 Dreamliner, while struggling to contain its European rival in the lucrative segment for large narrowbody jets just above 200 seats.
The order figures underscore Airbus’s decision to take over the lightweight but loss-making Bombardier CSeries aircraft, generating 135 orders worth $12 billion at list prices.
Without that boost, Airbus took just 41 percent of the core market in which it competes with Boeing, the lowest since 2009.
Highlighting the pressure Airbus has been facing recently in the market for large, high-margin wide-body jets, the European company was outsold three to one by Boeing for a second year.
However it reached a targeted production rate of 10 aircraft a month for its wide-body A350, which competes with the 787 and larger 777, at the end of the year, company officials said.
Airbus also trimmed the order list for its slow-selling A380 superjumbo, officially cancelling an order for 10 from Hong Kong Airlines four years after Reuters first reported that the airline had axed the deal, triggering financial negotiations.
The world’s largest airliner is mostly dependent on Dubai’s Emirates as Airbus slows production to a trickle in the hope of a future upturn, though many airlines are for now backing smaller jets.
(Reporting by Tim Hepher, Editing by Dominique Vidalon and Elaine Hardcastle)
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.
