Dubai-based Veling Tayara, a subsidiary of international aircraft leasing and sales company The Veling Group, is offering a new financing model for the business aviation sector – the operating lease.

Headed by former senior Embraer executives managing director Colin Steven, based out of Dubai, UAE, and non-executive chairman Ernie Edwards, from Florida (US), Veling Tayara’s proposition is to encourage high net worth Individuals and corporations to lease their aircraft, rather than buy. 

“Why lock yourself into a $50 million investment when an aircraft can be leased?  A lease won’t appear on the balance sheet, for everyone to see, and it gives the owner far greater flexibility to change or upgrade the jet three or five years later, just as the majority of the world’s airlines do,” said Uday Nayak, co-founder and chairman of The Veling Group.

“We are getting some good feedback from aircraft owners that this is the model for the future and a more mature way of financing a depreciating asset,” added Steven.

At the end of March, the group ratified its first Japanese operating lease for Emirates on an Airbus A380 (A-6EOG) Serial No 172, which took 18 months to complete

Following this, the company noted growing interest from the Middle East, India and China. “Concluding our first deal for Veling Tayara will be key,” said Nayak. – TradeArabia News Service