The Private Banking Division of Emirates NBD, a leading bank in the region, has organised an exclusive meeting for its High Net Worth clients focusing on Private Aviation and investment opportunities in this segment.
The Private Aviation meeting was the first in a series of meetings by Emirates NBD Private Banking, as part of its newly launched Lifestyle Management initiative, which seeks to introduce clients to globally renowned luxury lifestyle providers, in order to enable them to explore investment opportunities in these segments.
“Understanding our clients’ requirements and offering them optimum and innovative investment choices is at the core of Emirates NBD’s Private Banking philosophy,” said Pierre Pissaloux, General Manager of Wealth Management at Emirates NBD.
“The Lifestyle Management initiative is in response to demand from our HNW clients, many of whom have expressed interest in exploring alternative asset classes for investment. As Private Bankers, we aim to source the best luxury lifestyle solution providers worldwide, and put them in direct contact with our clients, thus providing them a wide range of information and advisory services. ”
As part of this initiative, Emirates NBD Private Banking also offers a range of customised financing solutions for investors interested to buy new aircraft or re-financing options for recently purchased ones.
Speaking at the Private Aviation meeting hosted by Emirates NBD Private Banking, Thierry Boutsen, President & CEO, Boutsen Aviation, a Monaco-headquartered company focused on private aircraft sales and acquisitions since 1997, said: “The Middle East is one of the fastest growing regions in terms of demand for private aviation, since it is currently home to only 2.1 per cent of a total of 18,507 private business jets available worldwide.
In contrast, the US currently owns about 61 per cent.”
Boutsen emphasised that the demand for private business jets is witnessing an uptrend in India, China and South America, reflecting a significant rise in the number of HNW individuals in these economies.
The private aviation segment however remains exclusive and niche, and comprises globally of a total of 37,147 private aircraft only, including both business jets and turboprops.
“This is an exciting time for investors interested to invest in private aviation, as prices of several airplane models have witnessed a steady drop since 2008,” said Boutsen in his overview of the private aviation sector. “Worldwide, there are only 2592 business jets up for sale today, and at Boutsen Aviation, we work closely across all aspects of aircraft sales and acquisitions, to ensure that our clients have access to the best services.”
“We have received excellent feedback from our clients about the Private Aviation event, and hope to follow this through with similar events dedicated to investment opportunities in luxury segments.
Some of the segments likely to be targeted include mega yachts, watchmaking, jewellery for Oscars, sportsmen, hospitality, fashion, cosmetics, art and others, that HNWI aspire to,” said Pissaloux.
Boutsen Aviation manages the various aspects of Aircraft Sales & Acquisitions including aircraft asset management, cabin completion management and aircraft interior design.
Till date Boutsen Aviation has managed the sales of over 220 aircraft ranging from Airbus Corporate Jet, Gulfstream, Bombardier, Dassault, Embraer, Cessna Citation and Beechcraft King Air. The company has its headquarters in Monaco with a subsidiary in Luxembourg and Dubai.
Emirates NBD is a leading banking Group in the region. As at 31 December 2011, total assets were Dhs 284.6 billion
The Group has a leading retail banking franchise in the UAE, with over 168 branches and over 780 ATMs and SDMs.
It is a major player in the UAE corporate banking arena and has strong Islamic banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.
The Group has operations in the UAE, the Kingdom of Saudi Arabia, Qatar, Singapore, the United Kingdom and Jersey (Channel Islands), and representative offices in India and Iran.
The Group is an active participant and supporter of the UAE’s main development initiatives and of the various educational, environmental, cultural, charity and community welfare establishments.