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According to newly-launched aviation expert Rakjet, the losses of private aircraft owners in the GCC countries who opted for in-house aircraft management exceeded USD45 million in 2015.

Rakjet has been launched, catering for all aspects of private aircraft management, sales and acquisitions. Based in the UAE, the company aims to address the increasing demand for feasible deals among Gulf aircraft owners.

According to X Jets’ management, reforming the traffic in the Middle East’s upper airspace would be a powerful catalyst to the region’s aviation sector.

Middle East and Africa accounted for a 7.9 percent share of the global business aircraft shipments in 2014.