Private Jet Prices Soar as Wealthy Scramble to Leave Dubai
Private Jet Prices Soar as Wealthy Scramble to Leave Dubai

Private jet prices have surged as wealthy individuals scramble to leave Dubai following Iranian attacks that damaged the airport and struck several high-profile hotels and landmarks. The normally glitzy city, a playground for billionaires and influencers, has been on edge since drones and missiles fired in response to US and Israel strikes on Iran hit the emirate.

The UAE defence ministry said it had continued intercepting incoming missiles and drones on Monday, as the country announced the closure of its embassy in Tehran amid the widening regional war. Some in Dubai have headed for Oman, a four-and-a-half-hour drive, where Muscat airport continues to operate, albeit with delays. The majority of commercial flights from Muscat to Europe are fully booked until later this week.

Prices for private jets from Muscat have surged, driven by soaring demand and the difficulty of securing planes in the volatile region. JetVip, a Muscat-based private jet brokerage, said a flight to Istanbul on a Nextant now costs about €85,000 (£74,000), roughly three times the usual rate. Seats on private charters to Moscow are going for about €20,000 per person. Several private jet companies said they were currently unable to deploy aircraft because of the difficulty of positioning fleets in the Middle East.

Wide Pickt banner — collaborative shopping lists app for Telegram, phone mockup with grocery list

Others looking to leave the UAE have opted for the 10-hour drive to Riyadh, whose airport remains operational. Private security companies have been booking fleets of SUVs to ferry clients to the Saudi capital before arranging onward private flights. Ameerh Naran, chief executive of Vimana Private Jets, said flights from Riyadh to Europe were now costing up to $350,000.

The disruption has triggered a political storm in Italy after the defence minister, Guido Crosetto, flew home on an Italian government aircraft, drawing criticism as hundreds of other Italians remained stranded. Crosetto was accused of being in Dubai on holiday with his family when the conflict began. He returned to Italy alone, leaving his family in Dubai, and has said he paid for the flight himself.

For most tourists, the only option is to hunker down in Dubai. Confusion mounted over operations at Dubai and Abu Dhabi airports, with conflicting reports about departures and cancellations. Major airlines announced they would resume a limited number of flights to help repatriate stranded passengers. Dubai’s tourist board has instructed hotels not to evict tourists unable to leave and to extend their stays on the same terms.

Pickt after-article banner — collaborative shopping lists app with family illustration