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.

Times of Oman - - MARKET - Times News Ser­vice

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.

– Sup­plied pic­ture

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..

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