As the region's corporate aviation sector continues to recover, business jet makers and private operators are optimistic ahead of the Abu Dhabi Air Expo on Tuesday.
Industry players expect new regional operators due to increased globalisation of regional trade.
Dassault Falcon, a part of the Dassault Aviation Group, will showcase the Falcon 900LX and Falcon 2000LX. It plans to grow its Middle East fleet by 10 per cent over the next year and a half and is expected to deliver six Falcons to Middle East customers in the next few months.
"2012 proved to be another positive year for the company, concluding with an order from Wallan Aviation for two Falcon 900 business jets," said John Rosanvallon, the president and chief executive of Dassault Falcon.
"The Middle East business jet market is maturing. The region has world-class infrastructure including magnificent new airports. The economy is growing and the future remains promising."
Meanwhile, Qatar Executive, the private jet charter division of Qatar Airways, will showcase its Bombardier Global 5000.
More than 12,000 visitors are expected at the three-day show. A total of 150 companies from more than 70 countries will take part, including Canada, the United States, Germany and France.
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
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Company profile
Company: Eighty6
Date started: October 2021
Founders: Abdul Kader Saadi and Anwar Nusseibeh
Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
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Specs
Engine: 2-litre
Transmission: Eight-speed automatic
Power: 255hp
Torque: 273Nm
Price: Dh240,000
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By Ben Okri (Head of Zeus)
The struggle is on for active managers
David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.
The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.
Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.
Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.
Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.
At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn.
UAE currency: the story behind the money in your pockets
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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