The Abu Dhabi-based Oasis Leasing Company increased its Risk Adjusted Lease Book (RALB) by 15 percent in the first nine months of 2002. Financial results for the third quarter of the year, show Oasis Leasing's RALB increased by 117 million Emirati dirhams ($31.8 million) in 2002, from Dh 795 million to Dh 912 million.
RALB enables the company to calculate its future revenue stream by taking the current value of the contracted lease book, adjusting it with the weighted average cost of capital and factoring in the credit risk.
Meanwhile, the company says, the benefits of recent transactions, involving the long-term lease of a new Airbus A321 and the purchase and leaseback of two Bombardier CRJ-100ER aircraft to Air Canada, will be felt from the fourth quarter onwards.
Oasis Leasing's asset portfolio includes 15 aircraft on long-term lease to major regional and international flag carriers and a 50 percent stake in a capesize bulk carrier ship, acquired in 2001. Clients include Air Canada, Malaysia Airlines, Virgin, Air New Zealand and Easy Jet.
Oasis International Leasing was formed in 1997. Its principal business is to identify, structure, manage and invest in high value leasing transactions. The objective is to deliver sustainable shareholder investment returns.
The original Oasis Leasing concept, aimed at promoting the creation of new financial services clusters in the UAE economy, was developed by the Offsets Department of the United Arab Emirates (UAE) Government. Leasing is viewed as an attractive and sustainable economic sector to develop. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
