The Middle East boosted its business aircraft fleet size today when Gulfstream announced an order for 20 G450s from Saudi Arabia’s National Aviation Services (NAS) valued at almost $700 million.
Taher Aguell, chief executive of NAS, said: "The Gulfstream deal is crucial for NAS’s future fleet plans and is a landmark for our company. We serve an increasingly growing market and this deal is a demonstration of our commitment towards our customers."
Delivery of the first G450 will be in the third quarter of 2009, with the remainder delivered over five years. Three of the orders are firm, with options for 17 more for a total potential value of more than $650 million.
"We are committed to the long-term success of NAS," said new president Joe Lombardo. "We are confident these aircraft will add significantly to NAS's capability to offer unparalleled service to customers in the Middle East."
Speaking at this morning’s announcement, Lombardo said the deal significantly increases the portion of Gulfstream sales to Europe and the Middle East. “Those regions bought 25% of the company's jets two years ago, and so far this year customers there are buying 42%,” he said.
Source: Flight Daily News
