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Palm Aviation Expects Sustained Growth
DUBAI - Dubai-based charter airline Palm Aviation expects to sustain its double-digit growth this year despite hurdles posed by the global crisis on the private aviation industry in the Middle East.
“Palm Aviation is firmly on course to deliver sustained revenue growth of 35 per cent per year,” said Mohammad Saideh, Executive Vice-President and Chief Marketing Officer of Palm Aviation.
He said the company’s growth in 2008 was “exceptional” while its first quarter performance remained strong, underpinned by long-term contracts with its partners.
“Private charter remains an attractive option as rates soften, helped by the decline in fuel prices, and people are continuing to fly.”
Saideh said Palm Aviation’s growth will be sustained through extended services in the Middle East, Africa, Europe and the Commonwealth of Independent States.
The company is also beefing up its US base with the recent appointment of its first US director of operations in Miami.
Saideh said this will support the growth and development opportunities in the North American market.
Palm Aviation has recently announced a series of long-term service contracts, covering ground handling services and logistical support with leading international and Middle East regional operators.
The company previously announced its $11-million investment in the first fixed base operation at Dubai World Central Aviation City, which will be home to the world’s largest maintenance repair operation centre.
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