Oman, Brunei agencies to set up aviation leasing firm
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Oman’s State General Reserve Fund (SGRF) and Oman Brunei Investment Company (OBIC) recently announced the alliance to set up Oman Brunei Aviation Leasing Company (OBALC).
This company has been set up with an authorised capital of OMR200 million. The new joint venture will acquire aircraft on outright purchase and place it on lease to major airlines, including Oman Air.
“We have set up this company to buy and manage aircraft and lease it to airlines and in turn receive returns,” Abeer Mohammed Al Abduwani, chief executive officer of OBIC was quoted in Times of Oman.
The newly formed venture will invest in and manage purchase and lease of modern and fuel-efficient commercial aircraft operated by airlines in the Middle East and globally. All major airlines in the Gulf region are also expanding their fleet strength and therefore, there are a lot of opportunities in these markets.
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