ILFC seeks more partners in high-growth region-UAE  

DUBAI - The International Lease Finance Coproration (ILFC) is looking to be partners in the great expansion in aviation growth in the region that is led by Emirates airlines, which is our most important business partner, Alex A. Khatibi, Vice-President, Managing Director - Middle East, ILFC, claimed yesterday.


He said: "Emirates is also our most important and top ILFC customer and we look forward to play a mojor role in all the purchase agreements that they will make in the future."

Apart from Emirates, ILFC is to play a vital role in the region to be part of the expansion along with the newly launched Air Arabia which he said offers tremendous scope for growth. Other airlines that are on similar growth path include Oman Air, MEA and the Royal Jordanian, Khatibi said.

He said: "With the airline industry and the aviation sector in general beginning to get out of last and early part of this year's slowdown, expansion plans are beginning to take shape. With Dubai International Airport's plans in the lead, the Sharjah airport expansion plans besides others offer a lot of potential for further growth in the region."

Khatib said: "Globally, ILFC sees great opportunity with number of serious campaigns including one with KLM, which is looking to lease 747, 757, and 767 aircraft and the A330 in the near future. Air France is another contender for the lease programmes mostly with Western made aircraft in the lead. On the other side is Belavia, the Belarus airline that looks promising in terms of future business opportunities."

The global turmoil of the past year, SARS and the terrorists situation seemingly being contained, air travel has started looking up with passengers feeling a whole lot safer to fly. Recent statistics by leading airlines show that growth and demand are beginning to pick up following the near normalization of the situation.

About the role of Boeing and Airbus, he said both the companies will stay in the region and are making headways in their own exclusive categories.

He said: "With the near stabilisation of airline sector, institutions are more inclined to investment-related ventures and see residual value guarantees in terms of new start-ups. There is a positive movement towards funding and we hope that this trend will help the already improving sentiments in the industry."

Praising the smart contribution to the aviation industry by the Dubai International Aerospace Exhibition which started in a small way but grew to become one of the worldly known and respectable one compared to other leading exhibitions, Khatibi singled out the leadership of the country for their contribution towards this. The greater variety in the civilian and military hardware and software displayed is only an indication of this, he said.

Khatibi said ILFC will register a smart rise in its businesses especially in the Asia-Pacific region and pointed out that a major announcement is expected soon. The increasing number of small and low-fare airline companies is a turn for the better.