Kate Sarsfield/LONDON
A new business aircraft leasing company, touted to be the world's first dedicated leasing operation, has been launched in the UK by joint venture partners CAPITAL BANK Corporate and aviation specialist, Exxtor. The first aircraft is scheduled for delivery next month.
Corporate Aircraft Leasing (CALL) is designed to reflect standard airline leasing practices, which, says the company, are used by about 75% of the world's carriers. "The corporate aircraft industry has reached a stage of maturity and it is the right time to translate all the lessons and successes of airline leasing to this market," says CALL financial director, Chris Brown.
Customers will pay a monthly rental over a predetermined period - usually three to five years for new aircraft and one to five years for pre-owned machines. The choice of a floating interest rate, which is reviewed every six months, or a fixed rate over the period of the lease will be provided. The customers will also have responsibility for the aircraft's maintenance and pilotage. "CALL offers all the benefits of aircraft ownership with no ownership risks or huge capital outlay," adds Brown.
Guernsey-based CALL is scheduled to take delivery of a Raytheon Hawker 800 in February and plans to acquire 10 new and pre-owned aircraft in its first year of operation. A wide selection of products is also anticipated, ranging from the Raytheon King Air twin turboprop to the Boeing Business Jet.
The company predicts that the bulk of its business will be drawn from the US market, with Europe accounting for around 30%. "We have also approached the MoD [UK Ministry of Defence] and submitted an early bid for the Queen's Flight [No 32 The Royal Squadron] tender," adds Brown.
Source: Flight International
