New research from Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, reveals that 293 mid to large private jets were delivered to the Middle East between 2006 and 2015, with an estimated combined value of over $14.65bn.

Global Jet Capital says these aircraft typically cost between $25m and $75m each, and up to 80% of the funding used to purchase these is sourced through external financing. The largest number of deliveries were to Turkey (77), followed by the United Arab Emirates (63) and Saudi Arabia (58).

Simon Davies, Global Jet Capital’s Sales Director for the Middle East, said: “Around 40% of the fleet of mid to large private jets in the Middle East delivered between 2006 and 2015, and these are the category of business jets that we finance. “We have a considerable amount of capital available for clients who want to finance mid to large private jets, and the Middle East is an attractive market for us.”

Global Jet Capital launched in 2014 and it is capitalized by three global investment firms - GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners; The Carlyle Group; and AE Industrial Partners. In January 2016 Global Jet Capital completed the purchase of GE’s corporate aircraft lease and loan book in the Americas.

The company’s current management team and executive committee is composed of leaders from business jet manufacturers, maintenance and service providers and leading financial institutions who have served the private aircraft industry for a combined 200-plus years and have completed over 3,500 aircraft transactions.