Oasis Leasing and NAS of Saudi Arabia reach $130 M deal for six aircraft

The deal is reported to be worth more than $130 M. NAS is currently the largest non-scheduled executive charter and VIP air carrier in the Middle East.

Gordon Dixon, CEO of Oasis noted the agreement is a first for Oasis in the thriving business and corporate jet market. "We are delighted to partner with NAS on this transaction. The addition of these aircraft to the NAS fleet helps accelerate the growth and development of the business and will, we hope, lead to additional mutually rewarding opportunities."

With a fleet of 33 aircraft currently, NAS has just been licensed by the government to begin operations from Riyadh as a private scheduled airline in the Saudi domestic market.

The agreement involves the sale of one Airbus A319 aircraft, already on lease to NAS from Oasis. An additional A319 in corporate configuration is being purchased by Oasis and leased to NAS together with two Gulfstream IV business jets and two Raytheon Hawker 800 XP business jets. The terms of the transactions are such that NAS will have the option to buy these aircraft in the future.

The Gulfstream is a large-sized business jet that can seat up to 14 passengers. The mid-sized Hawker typically seats six in a luxurious boardroom configuration.

This is the first time that Oasis has ventured into the business jet market which is growing strongly in the Region.