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NBAD and DVB launch aviation fund
- United Arab Emirates: Sunday, September 27 - 2009 at 10:16
National Bank of Abu Dhabi (NBAD) and specialist transport financiers DVB Bank (DVB) have signed a 50:50 joint venture to launch an aviation investment fund. The fund, which is expected to reach $1bn in assets over the coming two years, will invest in aviation assets - mainly aircraft and engines on lease to international airlines. The pair will manage the fund and as co-sponsors, will also proportionately invest in the fund alongside the investor base, which will primarily be from GCC countries. Late last year DVB Bank signed a deal with Kuwaiti low-cost carrier Jazeera Airways and third partner National Bank of Kuwait to launch a $375m aviation leasing firm, called Sahaab Aircraft Leasing.
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StaffSunday, September 27 - 2009 at 10:16 UAE local time (GMT+4)
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