The aircraft, both newly delivered, are subject to long-term operating lease to the Russian airline, Aeroflot.
“The current economic slowdown has been affecting the aviation industry and only few players are pursuing new business this year. Given the prevailing market condition, we are proud to be one of those very few players that still actively engage in competing for new business,” said Salem Rashid Al Noaimi, Chief Executive Officer of Waha Leasing.
“Many aviation companies are deferring business until next year, when the market condition is expected to stabilize. The environment at present is very challenging but Waha Leasing sees this as an opportunity to create a strong position for itself in the industry by forging potentially productive and long-term partnerships. We are very pleased to be working with AerCap and to be doing business with Aeroflot, our first Russian client. We look forward to a lasting relationship with both companies”
Waha Leasing is the owner of and/or provider of financing for 50 aircraft with a current market value of approximately $2bn. Aircraft asset types include regional jets, narrow-body and wide-body commercial aircraft with an average age of about 8 years. Its product offerings include operating and finance leases, subordinated loans and structured financing solutions with strategic focus on direct sale/leasebacks and portfolio acquisitions.
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