Wednesday, April 02, 2014

Wealthy Nigerians Continue to order Private Jets

The Nigerian Aviation industry continues to enjoy a boom according to Khadar Mattar, the Regional Vice-President, Sales, Middle East, Africa and Turkey, Bombardier Business Aircraft.

Mattar made this known on Monday while speaking on the sidelines of Nigerian Economic Summit organised by London-based Economist in Lagos.
According to him, at least 12 brand new private jets ordered by Nigerians and some corporate bodies will be delivered to the country this year.

This is an offshoot of the projection by private jet manufacturers to deliver 70 brand new private jets to the country within the next five years.
He said, "In Nigeria, we are looking at another 60 to 70 new business aircraft within the next five years; that is about 10 airplanes a year. There are 138 airplanes in Nigeria at the moment.
"Bombardier is currently leading the market in Nigeria and Africa. Twelve new ones should be delivered this year."
Mattar said medium-size and large-size private jets were currently more in demand in Nigeria because their owners were flying them to longer distances.
Taking an average price of $40m per aircraft, the 12 new private jets slated for delivery in Nigeria this year may cost about $480m (N76.8bn).
Mattar said, "The business aviation market in Nigeria is booming. It is actually its time. I will expect that it will double in size in the next 10 years. People are flying outside Nigeria now; people are flying within Africa because of their business expansion; people are flying to Europe because of their business expansion and the financials that they require.
"Nigeria as a country has actually changed; we have more laws and regulations. Infrastructure is changing, which is adapting to the new expansion. Because of this, you will see more private jets actually flying in Nigeria."

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