Max Kingsley-Jones/LONDON
A new Gulf-based leasing and charter company is under formation, ready for launch at November's Dubai air show.
The business is being set up by the Qatar-based Gulf Falcon Leasing Group, headed by Qatar Airways founder Sheikh Hamad Al-Thani.
"We are forming two companies that will be based in the United Arab Emirates [UAE]," he says. "One will be an operating lease company which will buy used aircraft attached to leases, the other will be a charter company which will provide passenger and cargo aircraft on ad hoc charters and leases," the Sheikh adds.
The two businesses will be based at an as-yet-undisclosed location within the UAE, with funding provided by local investors and Al-Thani. "The leasing company will buy aircraft from owners that are looking to sell, with investors then offered a share of the ownership," he continues.
The charter division will be launched this year or early next, depending on aircraft availability. "We are in discussion with C-S Aviation Services for the lease of two Airbus A300B4 freighters," says Al-Thani. Two Boeing 747-200s have been identified for the passenger subcharter/ lease business, but the acquisition has not been finalised, he adds.
Although the two businesses will be focused primarily within the Gulf region, the charter services will be offered worldwide. Al-Thani says the charter airline will offer short and long term "ACMI" (aircraft/crew/maintenance/insurance) leases where airlines require additional capacity at peak periods, such as for Hajj flights.
Source: Flight International
