Saudi Arabia has 10 aircraft management companies operating on Part 125 certification (private) and six on Part 121 special unscheduled (commercial), and the industry can expect to add 200 helicopters to the fleet, a NasJet official said at Corporate Jet Investor Dubai on Monday.
COO Yosef Hafiz said approximately 155 aircraft were in the Saudi fleet in 2017, with an average age of 15.5 years. The fleet reached a peak of around 170 aircraft in 2015, and he expects fleet renewal around 2020.
“We had a peak in 2015…and then it dipped down in 2016 and 2017, and we probably expect it to dip even further in 2018 and 2019,” he said. “That's not necessarily a bad thing. There are a lot of changes happening in the market.”
Government leaders, especially ministers, are choosing to fly private, he said. Foreign companies will be allowed to set up without a local partner. Megaprojects and entertainment are driving growth.
“I know that people are hungry for information [on] what's happening in Saudi Arabia,” he said. “Management companies and operators within Saudi will expand in number in the near future."