A new, fast-growing, private aviation company Prestige Jet has been officially inaugurated in Abu Dhabi.

The inauguration was held under the patronage of Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces General Sheikh Mohammed bin Zayed Al Nahyan at a ceremony at Bateen Air Base.

At the event, Prestige Jet chairman Ghaith bin Hamil Al Ghaith outlined the company's five-year business plan which includes a commitment to providing unrivalled levels of service and an ambitious fleet expansion programme.

'We are investing heavily in upgrading a number of our aircraft interiors in luxurious style, such as the challenger 604 Versace style which will set them apart from the rest of our competitors. We also aim to grow our fleet and operate nine aircraft by 2009,' he said. 

'At the recent Dubai Air Show 2007, where we made our first ever appearance, generated several new long term customer contracts, vindicating the decision to make this investment.”

'A new Sovereign Citation was added to the fleet during the show, bringing to five the number of aircraft we are operating out of Abu Dhabi International Airport,' he added.

'Earlier this year we purchased two new Grob Sp aircraft which will be delivered at the end of 2008 and early 2009, and we are also in negotiation for two other aircraft which will bring us to nine.”

'We continue to see strong interest in charter services across several different customer segments from High Net Worth individuals to corporates,' he added.

Ghaith also said that medical evacuation was another key growth area for the company and that its air ambulance offering had been recently upgraded through an agreement with Flight Ambulance International (FAI), a world leader in medical evacuation and repatriation services. Prestige is now the exclusive representative for FAI in Abu Dhabi and Al Ain.

'Through this agreement we now offer a worldwide turn key air ambulance service to the highest standard ensuring the comfort and safety of patients seeking or requiring treatment anywhere in the world. More importantly we can meet the standards set by organisations such as the Commission on Accreditation of Medical Transport Services (CAMTS) widely recognised as an industry standard - or the European Aero Medical Institute (EURAMI).

According to a report released at the Dubai Air Show, the value of the region's charter market has achieved 23 per cent annual growth over the past two years and is valued at $500 million a year, with business mainly emanating from Saudi Arabia. The UAE's market is valued at around $176 million.

'This report reconfirms our view that that Prestige Jet has an exceptional opportunity for significant business development in the coming years,' concluded HE Ghaith. 'With the variety of our fleet small to mid size aircraft we are well placed to meet demand from all customer segments.' – TradeArabia News Service