Abu Dhabi Aviation Company affiliate Royal Jet said yesterday it has slowed its expansion as the global financial crisis has hit the corporate sector, but saw recovery signs ahead of the busy summer period.
President Shane O'Hare said the executive aircraft charter had delayed by a year plans to increase its fleet to 20 from 12, but was still aiming to operate 50 jets by 2020-21.
"This customer base will not tend to trade down… they will continue to fly by private jet and that is good for us," said O'Hare, whose firm wants to become one of the world's largest corporate jet operators.
The group, jointly owned by Abu Dhabi Aviation Company and the government of the emirate, has a fleet that includes Boeing Business Jets, mid-range Gulfstream 300s, a long-range Gulfstream IVSP and a Learjet 60.
Royal Jet, in which flights can cost $18,000 (Dh66,100) an hour, will look to add six Boeing Business Jets as part of its five-year business plan, O'Hare said.
"We were looking at about 20 jets, but the economic downturn pushed back the plan by 12 months to 2013. It's the same plan in place, just the rate of growth has slowed," he added.
O'Hare expected profit growth to be flat in 2009 after a 17 per cent rise in the previous year.
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