National Air Services (NAS), a private Riyadh-based aviation company, announced today that it has renewed its agreement with NetJets, the world leader in private aviation.
Taher Agueel, Chief Executive Officer of NAS, said: “We will invest more than $800 million in expanding the NetJets Middle East (NJME) fleet in the Middle East over the next five years. Growth in the Middle East market is estimated at almost eight percent annually, and this investment will enable NAS to serve the increasing demand for private and executive aviation services in the region.”
NetJets Middle East is an operating business division of NAS, based in Jeddah, Saudi Arabia. NAS and NetJets launched the NJME program in 1999. Since then, NetJets’ innovative approach has provided world-class private aviation services to business executives in the Gulf and the wider Middle East region.
The NJME fractional aircraft ownership program allows individuals and companies to buy a portion of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours’ notice. NJME fractional owners may purchase shares as small as 1/16 (the equivalent of 50 hours of annual flight time). NJME also offers aircraft management, charter management and on-demand charter services.
The Chairman of NetJets Middle East, Vincent Santulli, said that NetJets was proud of its growing business in the Middle East. “For customers wishing to fly to, from or within the Middle East, NJME offers guaranteed availability of aircraft, access to the NetJets fleet worldwide, world-class service and an unparalleled safety record – all with none of the responsibilities of managing a fleet. Our renewed partnership with NAS will enable NJME to continue serving the private aviation needs of this growing region.”
The NJME program is operated under the same principles as the NetJets program in the United States, which was created in 1986 by NetJets Inc. Chairman and CEO Richard Santulli as the world's first fractional aircraft ownership program.
