Oasis ranked 16th in aircraft lease market

Abu Dhabi: Oasis International Leasing Company PJSC (OILC), a prominent aircraft leasing company in the Gulf region, yesterday said it has been ranked 16th in the international operating lease market, quoting the latest survey published by a major industry publication Air Finance Journal.

An OILC official told Gulf News the company currently owns 30 aircraft and there are 23 other planes, which the company shares with its business partners under "Project Blue."

"The survey has enhanced the company's image as we have been projected as a major international player in the aircraft leasing business," said the official, who didn't want to be identified.

The survey ranked the lessors based on the number of aircraft, both owned and managed, and the value of the portfolio, OILC said in a statement. It also published the aircraft models available on lessors' portfolios to identify companies that have the most popular aircraft which featured in the 2006 Air Finance Journal Investors' Poll, the statement added.

Formed in 1997, OILC is part of the big ticket leasing sector with a focus on aviation. The company is listed on the Abu Dhabi Securities Market. Since its inception, OILC has closed multi-million dollar deals with major airlines, including Etihad Airways, and the portfolio acquisition of secured financings for 25 aircraft from Airbus financial services. OILC's main institutional shareholders are Mubadala Development Company and Abu Dhabi Investment Company.

"Oasis is among the leading aircraft leasing companies in the region, and we would certainly seek to leverage the opportunities offered by the ongoing economic developments in the region," the statement quoted Salem Rashid Al Noaimi, OILC's acting Chief Executive Officer as saying.

According to the statement, the survey said the international operating lease market for aircraft is consolidating, but the "leasing bubble is far from bursting." New players are entering the market to tap into opportunities markets such as China, India and Russia, it added.

Identifying the involvement of hedge funds and private equity firms as another market issue, the survey said the fears of these funds beating a sudden retreat from the industry are unfounded. "Considering the increase in demand for aircraft, any retreat by private equity and hedge fund groups would seem a long way off," said the survey.

"The most important thing is that the lessors recognize the pressure airlines are under to transport an increasing number of passengers over point to point and hub to hub," it added.

OILC's shares on the Abu Dhabi Securities Market, however, fell 1.76% on Tuesday to close at Dh1.67 a share.