Aircraft leasing firm closes deal
The German firm purchased a stake in OBIC’s five Boeing 737-900ER aircraft for placing them in a fund.
MUSCAT: Oman Brunei Investment Company (OBIC) has successfully closed a deal with German Operating Aircraft Leasing GmbH & Co. KG (GOAL), one of Germany’s top investment companies and a renowned player in the field of structured asset finance.
Adding to its fleet of more than 60 aircraft, the latter purchased a stake in OBIC’s five Boeing 737900ER aircraft with the aim of placing them in a fund for German institutional investors, said a company release.
The five aircraft, which are now jointly owned by OBIC and GOAL, are on a long-term leasing contract with the Sultanate’s national carrier Oman Air.
As a well-established expert in managing aircraft assets, the German aircraft leasing firm will act as asset manager, as well as remarketing agent for the aircraft.
“After months of negotiation, we are very pleased to be executing this deal with GOAL. This not only showcases the fund’s abil- ity to diversify and create new sources of long-term income for its shareholders, but more importantly it emphasises OBIC’s ability to secure foreign direct investment and promote Oman on the international investment scene,” said Qais Abdullah Al Kharusi, CEO of OBIC. OBIC was established in 2009 as a 50:50 joint venture between the governments of Oman and Brunei. The private equity fund invests in high growth sectors in the region.
DEAL: The five aircraft, which are now jointly owned by OBIC and GOAL, are on a long-term leasing contract with the Sultanate’s national carrier Oman Air..