The firm had reason to be cheerful after confirming it had secured a deal with Saudi Arabian-based Nasair; the signing of a new GSA on its flights to Beirut is set to take place on day two of ATN.

Moussa noted: "It will be a quiet summer as usual, but October will be the time to gear up."

"By October there will be a specific clientele for a specific product; now you pay you what you should have to pay for a four-star hotel in Dubai, because the supply is now there," he added.

Planet Group is using the downturn as an excuse to restructure according to Moussa.

"We are reinforcing our HR department; because of recession many companies are reliving good people and we are taking them on," he said.

Moussa said his firm were using the UAE as a testing ground for its new business launches, citing Dubai’s improvement in infrastructure as a reason for the country coming out of the economic downturn in a strong position.

"The market here has much more potential [than other ME countries] and is easy for networking and communication opportunities.

"The baby is born here," commented Moussa on starting new businesses up in the UAE. "Once they are successful we send them all around the region."

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"We believe we are at the end of the recession," proclaimed Planet Group chairman George Moussa during the first day of ATM.