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Empire Aviation Group expands managed fleet of aircraft with the addition of a Gulfstream G450 intercontinental business jet

Company`s managed fleet of aircraft grows to 12 jets and is set to grow further in 2009 Dubai-based Empire Aviation Group (EAG), the general aviation company which manages one of the region`s largest fleets of private jets on behalf of owners, has announced the latest addition to the fleet — a Gulfstream G450 intercontinental business jet which the company has brought under its management on behalf of a corporation based in the Middle East. The aircraft will join EAG`s mixed fleet of business jets which now comprises 12 aircraft — nine of which are offered to the charter market. The company expects the fleet to grow to 15 aircraft by the end of 2009 — one of the largest managed fleet of private jets in the region – as the new and pre-owned business jet sales pipeline remains healthy. The Gulfstream G450 is the best large-cabin, long-range business jet in its class, and is a direct descendent of the successful GIV-series aircraft. It has advanced avionics and is capable of a maximum operating speed of MACH 0.88 and an operating range of 4,350 nautical miles (8,056km), cruising at 41,000 feet. The aircraft is configured to seat 16 passengers comfortably and has sleeper beds for six passengers. Its intercontinental range means that it can easily link Dubai with any of the major business centres in Europe and the Far East (including London, Hong Kong, Singapore, Tokyo, Shanghai, Kuala Lumpur), non-stop. “The G450 is an excellent business jet and a tremendous asset to our growing fleet of managed aircraft, based in Dubai and serving international business and leisure clients,” says Paras Dhamecha, Executive Director at Empire Aviation Group. “The G450 offers excellent levels of comfort as well as fuel efficiency and competitive operating costs. Empire Aviation Group`s asset management approach to aircraft ownership means that we can help the owner to optimise the return on the investment by offering the aircraft to the charter market, which continues to perform well in the Middle East, and offsetting some of the fixed costs of aircraft ownership.” According to Empire Aviation Group, the aircraft buying opportunity is especially attractive to private individuals who are cash buyers, as multinational companies continue to downsize and sell off assets. The company is continuing to work with buyers who recognise the current unique buying opportunity and is actively looking around the aviation world for aircraft on behalf of client. “It is a buyers` market for aircraft right now and this represents a tremendous opportunity,” adds Paras Dhamecha. “With aviation fuel prices at less than half their peak levels in 2008, and charter prices adjusted accordingly, private aviation continues to hold its own in the region and we are expecting 2009 to be a very strong year for us.”