Nearly 300 mid-to-large private jets were delivered to the Middle East between 2006 and 2015, with an estimated value of over $14.6 billion, according to new research.
Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, revealed that 293 jets were delivered, costing between $25 million and $75 million each.
It said that the largest number of deliveries were to Turkey (77), followed by the UAE (63) and Saudi Arabia (58), adding that up to 80 percent of the funding used to purchase these was sourced through external financing.
Global Jet Capital launched in 2014 and it is capitalized by three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners; The Carlyle Group; and AE Industrial Partners.
In January, Global Jet Capital, which has $2.5 billion in assets under management, completed the purchase of GE’s corporate aircraft lease and loan book in the Americas.