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SAUDI ARABIA’S NATIONAL AIR SERVICES PLACES FIRM AND OPTION ORDERS FOR GULFSTREAM G450 BUSINESS JETS WITH A POTENTIAL VALUE IN EXCESS OF US $650 MILLION
Contract Provides For Three Firm G450s With An Additional 17 Options To Be Exercised Over The Next Five Years
SAVANNAH , Ga. , May 21, 2007 – National Air Services (NAS), the largest and fastest-growing independent provider of private aviation and fractional share services in the Middle East , today announced it has signed a multi-aircraft contract with Gulfstream Aerospace. The multi-million dollar contract calls for firm orders on three Gulfstream G450 large-cabin, long-range business-jet aircraft, with options for 17 more G450s which if exercised will make the total potential value of the contract in excess of US$650 million. Deliveries will commence in the third quarter of 2009 and will then take place over the next five years.
“We are committed to the long-term success of NAS,” said Joe Lombardo, president, Gulfstream. “We are confident these aircraft will add significantly to NAS’s capability to offer unparalleled service to customers in the Middle East .”
“The Gulfstream deal is crucial for NAS future fleet plans and a landmark for our company. We serve an increasingly growing market and this deal is a demonstration of our commitment towards our customers,” noted Taher Agueel , CEO, NAS. “A jet class of its own, the G450, is destined to appeal to the passionate corporate and private aviation traveler across the Middle East.”
Two years ago, NAS announced the purchase of three G450s, scheduled to be delivered before the end of this year.
The leading provider of aviation services in the Middle East , NAS operates four distinct strategic business units, offering its customers non-traditional, total solutions to meet their various aviation needs. The company is the Middle East representative of NetJets, offering fractional ownership and leasing options, and has for the past six years, been providing this service along with a full portfolio of aircraft management service solutions.
To complete its package of products, NAS also offers two commercial services: Al Khayala airlines, a scheduled all-business-class service between the Saudi Arabian cities of Riyadh and Jeddah, as well as international serv ices to Dubai ; and the recently launched nas air, Saudi Arabia ’s first domestic carrier built on the budget business model.
The only licensed private aircraft operator in Saudi Arabia , NAS has its operational headquarters in Riyadh, Saudia Arabia, and satellite offices in Cairo and Jeddah.
NOTE TO EDITORS
Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), designs, develops, manufactures, markets, services and supports the world’s most technologically advanced business-jet aircraft. Gulfstream has produced some 1,600 aircraft for customers around the world since 1958. To meet the diverse transportation needs of the future, Gulfstream offers a comprehensive fleet of aircraft, comprising the wide-cabin, high-speed Gulfstream G150 ®; the large-cabin, mid-range Gulfstream G200 ®; the large-cabin, mid-range Gulfstream G350 ®; the large-cabin, long-range G450 ®; the large-cabin, ultra-long-range Gulfstream G500 ® and the large-cabin, ultra-long-range Gulfstream G550 ®. Gulfstream also offers aircraft ownership services via Gulfstream Financial Services Division and Gulfstream Pre-Owned Aircraft Sales ®. The company employs more than 7,900 people at seven major locations. We invite you to visit our Web site for more information and photos of Gulfstream aircraft at www.gulfstream.com.
General Dynamics, headquartered in Falls Church , Virginia , employs approximately 82,600 people worldwide and had 2006 revenues of $24.1 billion. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available online at www.generaldynamics.com.
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Document last modified Monday, 21-May-2007 12:16:33 EDT |