UPDATE 1-UAE’s Royal Jet to buy two Boeing jets by 2014 – CEO

* Airline eyeing delivery of three aircraft

* Carrier sees 6-7 percent growth

By Tamara Walid

DUBAI, May 5 (BestGrowthStock) – Executive aircraft charter company
Royal Jet, the affiliate of Abu Dhabi Aviation Co (ADAV.AD: ),
expects to buy two Boeing (BA.N: ) business jets by 2014, its
chief executive said on Wednesday.

“We expect to take one BBJ size aircraft next year and
another one in 2014,” said Shane O’Hare, president and chief
executive of Royal Jet.

The airline, which will take delivery of a previously
ordered business jet this month, is on track for three aircraft
this year and plans to add two aircraft every year, from small
to large planes, O’Hare said.

Royal Jet said in June it delayed plans to expand its fleet
to 20 from 12 by a year, pushing the plan to 2013, but it still
aimed to operate 50 aircraft by 2020-21.

The firm, which looks to become one of the world’s largest
corporate jet operators, was able to weather the downturn due to
its diversified traveller base, said O’Hare.

“What we found during the recession is that government
missions, heads of state, and delegation, has increased,” he
said. “In addition, we have emerging markets in Africa where
there is very strong trade despite recession, such as between
China and countries in Africa.”

The group, jointly owned by Abu Dhabi Aviation Co and the
emirate’s government, operates a fleet that includes Boeing
Business Jets (BA.N: ), mid-range Gulfstream 300s, a long-range
Gulfstream IVSP and a Learjet 60.

It serves corporations, governments, jet-set individuals,
royalty and heads of state globally. The corporate sector is
recovering but at a slow pace, with modest growth expected this
year, said O’Hare.

“This business was growing at 15-25 percent a year before
the recession. We are now at more modest growth levels of 6-7
percent.”

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(Reporting by Tamara Walid, Writing by Dinesh Nair; Editing by
Dan Lalor)

UPDATE 1-UAE’s Royal Jet to buy two Boeing jets by 2014 – CEO