Press Release

Issued by Modern Aviation.

December 8, 2014

XJet, a USA-headquartered exclusive private aviation service provider, is establishing a global network which will initially span Dubai in the United Arab Emirates, Damman in Saudi Arabia, the UK capital of London and the French capital, Paris.

The network was rolled out today at the Middle East Business Aviation Show in Dubai, where the company's founder & ceo, Josh Stewart, laid out plans for the global expansion of XJet's award-winning business model in Denver, Colorado.

“This is a realisation of our vision to continuously challenge the status quo and establish a new benchmark in private aviation,” he said.

XJet will base its global headquarters at Dubai World Central – the master-planned aerotropolis which is home to the new Al Maktoum International Airport (AMIA).

“The Middle East plays a key role in XJet's worldwide expansion and our global HQ will open Q4 2015,” Stewart disclosed.

XJet Dubai will occupy 8,600 square feet of AMIA's executive terminal and will include four hangars built in two phases.

“Our DWC plans are ambitious and designed to gain long-term competitive advantage,” added Stewart.

Welcoming the partnership, Tahnoon Saif, vice president, aviation district, Dubai World Central, said: “We are proud to associate with XJet and as a strategic partner, DWC will continue to wholeheartedly support the company's aspirations as it establishes it's global HQ in Dubai. It is a choice that also reflects the strong confidence that the emerging Dubai World Central aerotropolis inspires across the global aviation and aerospace sector.”

The King Fahd International Airport (KFIA) in Dammam, the capital of Saudi Arabia's eastern region and the Arab World's fastest-growing city, will be home to XJet's second Middle Eastern operation.

“We have been awarded the exclusive licence to develop an executive terminal and hangarage under a 25-year lease with a five-year exclusive operation period,” explained Stewart. “Saudi Arabia is host to the largest fleet of business jets in the Middle East, with 35% of all registered aircraft in the region and it will play a pivotal role in XJet's regional and worldwide expansion.

“KFIA is the third busiest airport in Saudi Arabia and shows the steadiest growth in private and business aviation. With the number of flights increasing by 8.4% and passengers by 13.9% a year, the airport is perfect for a sustainable entry into the Saudi market.”

At KFIA, XJet will build its own hangars and executive terminal, as well as provide its unique, award-winning service.

“The granting of our exclusive licence clearly shows both KFIA and GACA's commitment in developing the growing private/business aviation sector, creating clear and attractive conditions for experienced aviation companies to invest and take the industry to higher levels,” said Stewart. “The eastern province includes a significant number of private jet owners who currently have their aircraft parked in surrounding airports outside the Kingdom due to the lack of dedicated infrastructure supporting this particular type of aviation. XJet and its well-known Private Jet Club will ensure that along with KFIA and GACA's co-operation, conditions will be met to attract this traffic and offer a clear advantage for Saudi-based members who will benefit from world-class hangars, 24/7 concierge service and many other commodities currently offered in Denver.”

In Europe, XJet has secured exclusive FBO rights at London's Stansted Airport's Diamond Hangar – marking its European foothold. “We will launch our award-winning club and transient services inside one of the world's largest hangar spaces which can accommodate the largest aircraft and provide XJet's uncompromising level of service,” said Stewart.

XJet London's Club House and lounge will span over 17,000 square feet, with over 90,000 square feet of dedicated hangar. “Plans are now underway for a US $1.6 million terminal renovation to create a new club house and 'vip' lounges, so that we can deliver our award winning seven star service” added Stewart.

The second XJet European hub will be at Le Bourget Paris. The new build facility on an 18-acre green field site will include vip lounges, a clubhouse and over 70,000 square feet of hangar.