Arabasco, Royal Jet Form Saudi Charter Venture
Royal Jet and Arabasco today launched a joint venture to expand private charter services in Saudi Arabia. Under the terms of the deal, Abu Dhabi-based Royal Jet will base one of its five Boeing Business Jets and a Gulfstream G300, respectively, at the Jeddah and Riyadh bases of FBO/maintenance group Arabasco, and will also permanently station aircrew and support staff in Saudi Arabia. The Royal Jet aircraft will be flown under Arabasco’s Saudi air operators certificate, since it is effectively impossible for foreign operators to get their own air operator’s certificate in the Kingdom of Saudi Arabia. Royal Jet has a fleet of 10 aircraft. Arabasco provides aircraft management, maintenance and ground handling services throughout Saudi Arabia and operates a network of VIP terminals, which will now be available to Royal Jet customers. According to Royal Jet president and CEO Shane O’Hare, there is still significant growth in demand for business aviation within Saudi Arabia due to the “strong liquidity” of a market that appears not to be badly exposed to the global squeeze on credit.