The escalating crisis in the Middle East has triggered a mass evacuation of wealthy individuals and senior executives, with the cost of chartering a private jet from Riyadh to Europe skyrocketing to as much as $350,000 (approximately N479 million).
According to reports, private security firms are coordinating complex evacuation operations, booking fleets of sport utility vehicles to transport clients from hotspots like Dubai to Riyadh, which has emerged as the primary exit point from the region. From there, chartered private planes ferry evacuees to safety in Europe.
Ameerh Naran, chief executive of private jet brokerage Vimana Private, confirmed the staggering price surge.
“Saudi Arabia is the only real option for people who want to get out of the region right now. Private jets from Riyadh to Europe now cost up to $350,000,” he said.
The exodus follows Iran’s reprisal attacks on United States military bases in the Middle East on Saturday morning.
Multiple explosions were reported in Abu Dhabi, Manama, Doha, Kuwait, and Riyadh, marking a significant escalation in hostilities. The attack came in response to a joint missile strike by the US and Israel on Iran.
The conflict has severely disrupted economic activity and transportation across the region. The United Arab Emirates has closed its airspace, while Dubai airports have shut down operations indefinitely.
Qatar Airways has suspended all flights, and several global airlines have announced temporary suspensions of operations to and from the Middle East.
Ian McCaul, operations and future plans director at Alma Risk, a UK-based security firm, said his company has received a surge of requests from clients seeking urgent assistance.
“We’ve been approached by a mixture of clients including families, individuals, and corporations that want to get out of the region either because they fear for their safety, or for business reasons they just need to be able to travel,” McCaul said.
The evacuees include senior executives at global financial institutions and high-net-worth individuals who were in the region for business or leisure when tensions escalated.
With commercial airlines grounded and airspace closed across multiple countries, private aviation has become the only viable escape route, driving prices to unprecedented levels.
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