The air charter business in the Middle East is experiencing a major boom, driven by the growing presence of multinational corporations and a vibrant economy, according to Hugh Courtenay, chief executive of International Air Charter. The Dubai-based charter aircraft brokerage predicts a 40% growth in its business in 2004, compared with last year, boosted by a heightened demand for corporate charter services. Security fears and a long period of high oil prices - creating a positive business environment - have also helped the growth in charter air travel, especially in the Arab Gulf states.
Courtenay says that perceptions of chartered air travel are changing. As a result, "charters are no longer viewed as a luxurious indulgence of the privileged. It is a very safe and practical way to travel, especially to multiple or remote destinations, a view that is being shared by an increasing number of businesses in the Middle East." The most significant increase in demand in the Middle East, he continues, has been from the corporate sector for flights with three- or four-leg destinations.
Source: Flight International