(MENAFN) Omani and Brunei's Sovereign wealth funds are set to partner to establish an aircraft leasing firm with capital of USD520 million, the Omani fund said, Arabian Business reported.
The firm is going to be set between Oman's State General Reserve Fund (SGRF) and Oman Brunei Investment Co (OBIC), which is itself a 50-50 venture between SGRF and the Brunei Investment Agency.
The new venture, Oman Brunei Aviation Leasing Co (OBALC), will invest in and manage the purchase and lease of commercial aircraft operated by airlines in the Middle East and globally.
"Aircraft leasing represents an attractive investment product and in due course we will be offering institutional investors the opportunity to participate in the sector through an aviation leasing fund," chief executive of OBIC said in a statement.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.