Oasis Leasing sells four Embraer 120s

Abu Dhabi: Abu Dhabi-based Oasis International Leasing yesterday announced it has completed the sale of four aircraft from its fleet to several undisclosed purchasers.

All the aircraft are coming off lease agreements and are Embraer 120s. Specific terms of the transactions were not released.

Gordon Dixon, Chief Executive of Oasis Leasing, said the resurgence of the aviation sector was being felt throughout the industry, as the relative values of aircraft of all types were increasing.

"These deals are relatively small in terms of overall monetary value, but each adds to our profit margin and permits us to consider larger transactions in the future," he said in a statement.

The Embraer EMB-120 is a Brazilian-made 30-seat, pressurised twin-engine turboprop featuring a high cruising speed and low operating costs. The aircraft seats up to 30 passengers and provides very attractive economics for operators on short-to medium-stage lengths, especially in the current high fuel cost environment.

As the commercial aviation industry considers the merits of the new super jumbo-sized aircraft that have yet to begin service, many private organisations and corporations are also upsizing to larger turboprop aircraft such as the EMB 120, the statement added.