A Waha Capital subsidiary purchased the aircraft from a company within the Myway Airlines Group and has subsequently leased them back to Myair.com, the budget Italian airline.
The deal was financed by Export Development Canada, an export credit agency and this is the first time Waha Capital has chosen to secure financing from an export credit agency.
Roger Clarke, head of Trowers' aviation practice, who was assisted by asset finance partner Paul Flood and associate Sarah Humpleby, comments: "We are delighted to have acted for Waha Capital on this ECA funded sale and leaseback. The deal has allowed Waha Capital to further expand their existing fleet of aircraft."
DLA Piper acted for the Export Development Canada and Irish law firm Matheson Ormsby Prentice advised the seller.
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Trowers & Hamlins advises Oasis on $100m sale and leaseback of 4 aircraft to Italian budget airline
- United Arab Emirates: Wednesday, February 27 - 2008 at 16:58
- PRESS RELEASE
International law firm Trowers & Hamlins has advised Waha Capital, (formerly know as Oasis International Leasing Company), the UAE's leading big-ticket leasing company, on a sale and leaseback of four 90-seater Bombardier CRJ-900 aircraft for $100m.
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About Trowers & HamlinsTrowers & Hamlins is "The Lawyer" Law Firm of the Year 2007.
Trowers & Hamlins is an international law firm of 106 partners and over 650 staff. It operates across the Middle East and North Africa region out of Dubai, Abu Dhabi, Bahrain, Oman and Cairo. It operates in Saudi Arabia in association with Feras Al Shawaf and in Turkey in cooperation with Senguler & Senguler.
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020 7423 8000
Nick Mattison
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Mattison Public Relations, 3 Quastels House, 32 Long Lane, London SE1 4AU
Tel: 020 7645 3636
Fax: 020 7645 3637
Posted by Lara Lynn Golden, News EditorWednesday, February 27 - 2008 at 16:58 UAE local time (GMT+4)
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