PRESTIGE Jet predicts that up to 25 per cent of its business could come from the Russian market by the end of 2008.
The forecast is based on the new wealth created by Russia’s business boom, the size of the region and the poor and/or unreliable transport links which has resulted in greater reliance on corporate jet services.
Prestige Jet is the new, fast-growing, private aviation company operating out of Abu Dhabi International Airport.
The Russian GDP has grown by an average seven per cent a year. In the same period, dollar income per head has grown by nearly 29 per cent annually, faster than China, said managing director of Prestige Jet, Faris Deeb.
This unparalleled growth in the population’s disposable incomes has created what the media is calling the ’new Russians’ which includes an emerging upper middle class who are clamouring for the finer things in life, he said.
“Russian consumers have embarked on an unprecedented spending spree on all things luxury, incuding travel. Russian business people in particular are increasingly embracing executive jets as indispensable business tools,“ said Deeb.
Deeb adds that according to figures released by the Russian Business Aviation Association (ADA), private jet ownership and business aviation movements in Russia and the CIS skyrocketed 30 to 40 per cent in recent years.
Prestige Jet began operations in May and has quickly established itself as one of the foremost providers of top-of-range executive flight services from and to the Middle East region, filling a niche in the fast growing VIP and business aviation market, particularly in Russia.
TTN is the most established trade publication in the Middle East distributed on a controlled circulation basis to members of the travel and tourism industry.
Published monthly by Al Hilal Publishing and Marketing Group, the region’s foremost trade publisher, TTN is aimed at professionals in the industry, from travel agents to airline and hotel personnel.
TTN provides in-depth and extensive coverage of relevant issues in the Middle East and North Africa as well as in other parts of the world. Travel related news, analysis, and new appointments together with information on up-coming exhibitions, marketing and promotional campaigns are presented in an innovative and striking colour tabloid.
Every issue also contains a collation of international and regional news and topical features of interest to readers.