In the backdrop of reaching $1 billion revenues by 2018, Bahrain with an annual growth of 5% in business jet segment is poised to play a crucial role in this rapidly emerging business segment in the GCC, thanks to the leadership’s vision and facilities being offered by the Bahrain International Airport.
“Bahrain being a pioneering member of the Middle East Business Aviation Association (MEBAA) will play a major role in enhancing the base of this specialized but very dynamic aviation business in this part of the world,” CAA’s Undersecretary Captain Abdulrahman Al Gaoud on the sidelines of the conference told reporters.
Despite the size, he said, Bahrain is the third largest country after Saudi Arabia and the UAE in terms of having 17 registered business jets.
“We are overwhelmed with the interest of companies with six already registered by the Kingdom and many are in the pipeline,” Al Gaoud said.
He also thanked the Deputy Premier Shaikh Ali bin Khalifa Al Khalifa’s vision to make the Kingdom a hub of aviation conferences and following the success of the first Bahrain International Airshow (BIAS).
“The Middle East region is the right place of such businesses and Bahrain being a key destination in the region will remain committed to offer the best business climate to the aviation business,” he said.
Organised by the Bahrain Civil Aviation Affairs (CAA) in cooperation with the British Quaynote Communications, the two-day international conference on the Future of Business Jets in the Middle East (Bizjet), officially kicked off yesterday at the Moevenpick Hotel.
Senior aviation officials representing the US Boeing Company, the European Airbus Company, the British BAE Systems, the Middle East Business Aviation Association (MEBAA) and other international companies and organisations were present.
Al Gaoud also conveyed Deputy Premier’s thanks and appreciation to all the participants, hailing his support for key aviation events. He also stressed the importance of such significant conferences, wishing the participants every success.
Al Gaoud said that Bahrain’s conscious efforts to offer the best, secure and quality services would remain the hallmark of the business model in the MENA region.
This segment of the business, he said, is also key driver of creating job opportunities to Bahrainis in all vital segments.
Ali Naqbi Founding Chairman, Middle East Business Aviation Association (MEBA) in his keynote address titled ‘maximising growth potential for business aviation in the Middle East’ said that Bahrain’s proximity to Saudi market, and access to Qatar, Iran, Iraq and Pakistani markets would serve as key driver of growth.
“With the revenues of $493.9 million in 2008, GCC’s business jet segment revenues are set to reach $1 billion by 2018, making it one of the well sustained segment of the aviation business in the region,” he added.