adrianqcs 0 Report post Posted November 13, 2007 Alwaleed first private buyer of A380 superjumbo DUBAI: Prince Alwaleed bin Talal, the Saudi billionaire who is Citigroup Inc's biggest individual investor, agreed to buy a US$319mil Airbus SAS A380 superjumbo, becoming the first private customer for the world's biggest aircraft. Prince Alwaleed bin Talal The purchase was announced by Toulouse, France-based Airbus at the Dubai Air Show yesterday. Alwaleed, ranked the world's 13th richest person by Forbes magazine, flew in from Saudi Arabia on his Boeing 747. Surging oil prices have helped boost sales of private jetliners in the Middle East. The double-deck A380, which seats 525 people in a standard airline configuration, can house three bedrooms, private lounges, bathrooms, offices, a steam bath and exercise machines in a so-called VIP set-up, according to Deutsche AG's maintenance arm, which outfits plane interiors. Airbus, the world's biggest maker of commercial aircraft, expects to sell 30 to 35 VIP planes a year, with the Middle East accounting for as many as 40% of them, Richard Gaona, vice-president for executive and private aviation, said in January. The company was in talks with two potential A380 customers, he said at the time. Airbus began offering planes configured as business aircraft in 1999, initially focusing on the A319, normally a 124-seat jet. Since then, the company has doubled its sales of VIP planes and added larger models such as widebody A330 and A340. Airbus has sold 80 private jets in total, Gaona said in January. Private aviation in the Middle East, the world's third largest market after the US and Europe, may grow 10%-12% annually, doubling in value to about US$800mil by 2012, Ali al-Naqbi, chairman of the Dubai-based Middle East Business Aviation Association, said on Jan 11. – Bloomberg Latest business news from AP-Wire Share this post Link to post Share on other sites
Radzi 2 Report post Posted November 13, 2007 (edited) So, one used VIP B744 for sale? Edited November 13, 2007 by Radzi Share this post Link to post Share on other sites
Kevin Teh 0 Report post Posted November 13, 2007 perhaps it'll be HZ-WBT8.... increasing the VIP fleet size... Share this post Link to post Share on other sites
Naim 6 Report post Posted November 13, 2007 Good write-up about da man here (written 2005). Sounds like a good muslim, though I'm not sure he invested in halal stocks, for e.g., Citigroup, Planet Hollywood. http://news.independent.co.uk/people/profi...ticle302643.ece Excerpts Prince Alwaleed bin Talal bin Abdulaziz al-Saud is a legend. His $590m investment in Citigroup is now worth $10bn (£5.7bn). The $115m he put into Apple has soared to a stake valued at $1.8bn. In a 20-year investment career he has amassed a $24bn fortune and rescued fallen stars such as Canary Wharf, Euro Disney and Planet Hollywood. ... On his investment-hunting trips around the world, Alwaleed often visits tens of countries in a matter of days. He travels on one of his fleet of three Boeings, including a 747 fitted with wireless broadband. He and his entourage often work 24 hours a day. These are Alwaleed's "holidays". ... Although he is a grandson of King Ibn Saud, the founder of modern Saudi Arabia, Alwaleed's immediate family never had the immense wealth enjoyed by many of his relations. Having become, at 14, the youngest man to join the Saudi military, he soon developed an interest in business, listening to the BBC news on the radio every day as well as reading political magazines and newspapers. In 1976 he enrolled on a business course at California's Menlo College; on returning, he was given a $30,000 loan from his father and a house that he mortgaged, raising around $400,000. In addition, as a Saudi prince, he was receiving an allowance of $15,000 a month. ... With an annual income of around $500m from dividends, he reaps huge rewards from retaining his shares. His biggest challenge is finding new opportunities, and in this, he has just 10 close advisers - five of them from Citigroup's private-banking arm - who assist him in his decisions. He is always accompanied by one of them on his travels. ... "If there's any catastrophe in the world, I will contribute," he says, explaining that Islamic law decrees he should give to charity 2.5 per cent "of a certain formula" of his wealth. In fact, it is estimated that he donates more than $100m a year to good causes. ... "I believe," he says, "that every person, when God gives them all these blessings, has a responsibility to give back to the world. You can't just stack money - it is not right." Share this post Link to post Share on other sites
Andrew Ong 1 Report post Posted November 13, 2007 Can't wait to see the Prince's A380 HRH Prince Alwaleed bin Talal places first order for A380 flying palace 12 November 2007 HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding company, has signed a firm order with Airbus for an A380 Flying Palace, becoming the first customer for the VIP version of the new double-deck airliner. The A380 will be powered by Rolls-Royce Trent 900 engines. It will undergo cabin outfitting at a yet to be chosen completion centre. Airbus’ A380 Flying Palace allows customers to trade up to more space, more comfort and a more modern design that flies non-stop to the world. It will also allow them to benefit from more tranquil travel in the A380’s outstandingly quiet cabin, as well as the peace of mind that its four engines bring. “Prince Alwaleed’s order means that Airbus’ sales success in the corporate jet market now extends from its smallest aircraft, the A318 Elite, all the way up to its largest, the A380 Flying Palace,” comments Airbus Chief Operating Officer, Customers, John Leahy. “It also complements our strong VIP A330/A340 sales,” he adds. Airbus’ A380 is the world’s newest airliner, and entered service last month with Singapore Airlines, one of many prestigious customers. Featuring a wider fuselage than today’s largest aircraft plus 50 per cent more floorspace (551 m2/5,930 ft2), the Airbus A380 has also been designed to use existing runways - taking off and landing in less distance. Sales of the Airbus Corporate Jetliner Family, comprising the A318 Elite, ACJ and A320 Prestige, recently passed the 100 order milestone, highlighting their increasing appeal to corporate, individual and government customers. In addition, more than 40 Airbus widebodies are in widespread VIP and government service. All Airbus aircraft feature the most modern designs in their class, delivering unmatched appeal and value to the passengers that fly in them and the companies that buy and operate them. Benefits include the latest fuel-saving aerodynamic designs, extensive use of weight-saving carbonfibre, a common cockpit that reduces training costs, cost and time-saving centralised maintenance, and a worldwide customer support network. Airbus is an EADS company. * * * About HRH Prince Alwaleed: His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud is the founder and chairman of one of the world’s most successful and diversified financial investment enterprises, Kingdom Holding Company (KHC), with total assets of around US$ 25 billion. The man and vision behind one of the world’s most successful international holding companies has been named twice by Forbes magazine as one of the smartest and most creative investors in the world. Prince Alwaleed is the only private owner of a Boeing 747-400. Share this post Link to post Share on other sites
BC Tam 2 Report post Posted November 13, 2007 What happened to Roman Ambro....., well, owner of Chelsea Football club anyway ? Didn't complete purchase of his whale ? Share this post Link to post Share on other sites
Jessnor Arif 1 Report post Posted November 13, 2007 Deutsche AG's maintenance arm, which outfits plane interiors. Hmm Another Press Blunder There's no such company "Deutsche AG" Share this post Link to post Share on other sites
Kenneth T 0 Report post Posted November 13, 2007 That bloody amount of money should be donated to the poor instead of spending on unecessary...besides he's not going to use that much of space also. Share this post Link to post Share on other sites
Jessnor Arif 1 Report post Posted November 13, 2007 So, one used VIP B744 for sale? Hmm tell that to our beloved PM.. He might buy that for the use of government officials hehe Share this post Link to post Share on other sites
dsim 0 Report post Posted November 13, 2007 That bloody amount of money should be donated to the poor instead of spending on unecessary...besides he's not going to use that much of space also. erm... donating to airbus in this case... Share this post Link to post Share on other sites
Louis L. 2 Report post Posted November 13, 2007 how i wish i got a fraction of his wealth ...can't affort a380 also nvm...acj also ok la Share this post Link to post Share on other sites
Fahiruz 0 Report post Posted November 13, 2007 Hmm tell that to our beloved PM.. He might buy that for the use of government officials hehe who needs B747.. we have Soyuz! Share this post Link to post Share on other sites
Imran K. 0 Report post Posted November 13, 2007 That bloody amount of money should be donated to the poor instead of spending on unecessary...besides he's not going to use that much of space also. and you assume that he doesnt give charity? Trust me...i've encountered MANY people over the past 7 months to know that USD319 mil....is close to 1/15th of the money he has spent on charity. Kudos Ya Seedee... Share this post Link to post Share on other sites
Philip 1 Report post Posted November 14, 2007 At least this prince made his fortune mostly from investments and not oil money like most other middle eastern billionaires. In that sense he's using his own money to buy the plane instead of tax payer's money. That bloody amount of money should be donated to the poor instead of spending on unecessary...besides he's not going to use that much of space also. If the news report is true he already donates $100m a year to charity out of $500m in dividends... a pretty big percentage of his earnings. Hmm tell that to our beloved PM.. He might buy that for the use of government officials hehe Don't give pak lah any ideas now Share this post Link to post Share on other sites
Mushrif A 3 Report post Posted November 14, 2007 how i wish i got a fraction of his wealth ...can't affort a380 also nvm...acj also ok la I'm sure you already have a fraction of his wealth....perhaps just a tiny microscopic fraction, but nevertheless, still a fraction. Share this post Link to post Share on other sites
Naim 6 Report post Posted November 14, 2007 ... If the news report is true he already donates $100m a year to charity out of $500m in dividends... a pretty big percentage of his earnings. ... There's an interesting item in Islamic wealth mgmt. If you have 'unused wealth', you need to pay a flat annual tax of 2.5% of the value, as tithes. I guess the idea is to encourage wealthy ppl to pump their wealth back into the economy to do good for the community as a whole, rather than keeping it idle. One view says, a wealthy man is actually not the real owner of 'his' wealth, but rather a custodian of wealth which actually belongs to God. Share this post Link to post Share on other sites
Kenneth T 0 Report post Posted November 14, 2007 (edited) He should donate more...since many parts of the world is still in poverty. Besides....i dont think he needs that much of space to fly. Edited November 14, 2007 by Kenneth T Share this post Link to post Share on other sites
Louis L. 2 Report post Posted November 14, 2007 I'm sure you already have a fraction of his wealth....perhaps just a tiny microscopic fraction, but nevertheless, still a fraction. i guess even a microscopic fraction would me a richer man now ..i guess nanoscopic or even pikoscopic .... Share this post Link to post Share on other sites
