Despite continued political instability in the Middle East and high oil prices, NasJet has seen revenue improve by six per cent in 2012, with an expected increase of 20 per cent for 2013.

NasJet, the largest private jet company in the Middle East, announced revenues exceeding 500m SAR (approximately $130m) for 2012. These results follow 13 years of operation, built on a solid foundation supported by a managed fleet of 65 aircraft exceeding a retail value of $1.5 billion.

"Regionally, we are recognised for our operational excellence and long-standing track record for delivering tangible economy of scale financial benefits to our clients," says James Dailey, NasJet coo.

The company employs more than 300 aviation experts of which 120 include full-time pilots based at its Riyadh headquarters.

Sulaiman Al Hamdan, ceo of Nas Holding, congratulated the NasJet team for driving growth in a sector which continues to remain challenging, compounded by escalating operating costs.

As part of a core strategy, the company will continue to focus on managing long range, wide cabin aircraft. "We are strategically positioned to operate a significant proportion of new aircraft deliveries into the Middle East over the next five years and to rival the large international operators in terms of fleet size," says director of marketing Hardy Sohanpal.