Prestige Jet announced the launch of Prestige Holding, which will own, manage and operate Prestige Jet and five other subsidiary companies, all related to business aviation, at the ongoing Middle East Business Aviation 2008 show (Meba).

Gaith Ben Hamel Al-Gaith, founder of Prestige Jet and chairman of Prestige Holding, also revealed the formation of two new subsidiaries, Prestige Invest and Prestige Flight Ambulance, as well as the acquisition of the highly-respected Madrid-based aircraft management charter services operator Flylink Express, which will become Prestige Jet Spain S A, the company’s launch-pad to Europe.

Prestige Holding also announced the development of three new Fixed Based Operations (FBOs) in Qatar, Jordan and Bahrain. The company has received its Air Operator Certificate from Doha.

“This has been a banner year for us at all levels. We have experienced remarkable growth and introduced bold initiatives and enhanced services that consistently exceed our customers’ expectations,” Gaith Ben Hamel Al Gaith, told a news conference at MEBA.

“I am pleased to say that we remain on track with our stated strategy which has allowed us to spread our wings faster and wider than we first planned.”

Prestige Holding LLC will have the following subsidiaries:
• Prestige Jet (The Charter Company)
• Prestige Jet Technique/Duncan Aviation
• Prestige Flight Support
• Prestige Flight Ambulance
• Prestige Jet Brokerage Services
• and Prestige Invest

“The utilisation of our eleven-strong, multi-functional fleet is running at an average 40 per cent above target. Prestige Jet has set new standards for business aviation travel in the Middle East, and this is reflected in the explosive and sustained growth that the company is experiencing,' said Faris Deeb, vice chairman of Prestige Holding.

“I am pleased to announce that we are equipping one of our Challenger 604 aircraft to become our dedicated medical evacuation and repatriation jet out of Al-Bateen airport in Abu Dhabi. This will enable us to have longer direct flights and allows more family members to accompany patients on the plane,” added Yousuf Al-Ghareeb, business development director for Prestige Holding.-TradeArabia News Service