Dubai Airshow: NetJets tweaks fractional model to please local market

Graeme Deary NJME’s new executive director for business development says: “We have had a phenomenal response to the leasing programme. You’d think that the cheaper one year programmes would have been more popular, but people are signing up for the five year leases.”

He attributes this to the fact that now is a good time to buy for those who can afford it with prices of new aircraft down up to 30%. Deary is a passionate believer in the model and was drafted in to boost NJME’s flagging marketing and sales division. He was part of the dream team that set up Net Jets Europe in 1996 and left to set up a competing firm, which went into administration a year ago.

Deary anticipates that NJME will have “five to ten” aircraft on its books in two years time and that 75% of its revenues will come from the new leasing model. He said: “Although the UAE was badly hit other regions are buoyant. Qatar Cairo and Africa are seeing lots of development projects and now is a good time to invest.”

NJME’s current regional fleet consists of 20 aircraft, 17 under fractional ownership, which are a mix of Hawker 750s/800XPs, Falcon 2000s/2000EXs and Gulfstream GIV-SPs/G450s. There are also three business jets under management, which are chartered to both NJME and outside customers.

NJME also announced at the show that it has launched a new fractional programme for the latest addition to its fleet the new Dassault Falcon 2000LX jet, which is scheduled for delivery in a few weeks time. It is also relaunching the card program for its Hawker Beechcraft aircraft.

The company will also offer aircraft management, charter management and on-demand charter. Although Deary anticipates that the new aircraft on his books will cater for the lift required, he says that the company will outsource to carefully selected local providers should the need arise,

NetJets Middle East (NJME) is owned by Saudi Arabia’s National Air Service and is licensed to US headquartered NetJets.