Oasis International Leasing has reported a $10 million investment from international defense and aerospace company BAE Systems.
The Abu Dhabi-based lessor said in a news release that the cash injection was in the form of a loan convertible into shares as and when its planned rights issue takes place.
“This is a significant vote of confidence in Oasis Leasing by our largest share holder. It will provide new money which can be used to capitalize on the opportunities in the leasing market for the benefit of both the company and its shareholders,” said Chairman of Oasis Leasing, Mohammed Saif Al-Mazrouei.
“BAE Systems has had a presence in Abu Dhabi for many years and we look to build upon our work in the Emirate, in a number of different sectors,” said BAE Systems Director for the United Arab Emirates (UAE), Ben Bridge.
At the end of 2003 Oasis Leasing’s asset portfolio included 21 aircraft on lease to major regional and international flag carriers and a 50 percemt stake in a capsize dry-bulk vessel. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
