Aircraft

Middle East lessor Oasis International Leasing has teamed with defence contractors to acquire 25 Airbus widebody and narrowbody aircraft in a financial investment linked to regional offset repayments.

Under the acquisition Oasis International is taking 25 Airbus narrowbodies that are on lease to operators in several regions around the world.

But a senior source at Oasis says these aircraft, being acquired from Airbus Financial Services, will not become part of its regular operating-lease business, which covers a fleet of around 20 aircraft.

“They’re not on operating leases,” he says. “It’s a mix of finance leases and loans. They don’t actually add directly to our portfolio.”

Oasis instead views the acquisition as a financial investment secured on an “attractive” portfolio of aircraft types, a combination of A320 family aircraft, as well as A330s and A340s.

Terms of the acquisition have not been disclosed. But the source says that Oasis is an equity party and that its partners include a syndicate of defence contractors, as well as a debt syndicate led by financial company Barclays Capital. Airbus will also retain a partial interest.

These partners have established a special-purpose company through which the transaction has been conducted. The deal has also been assisted by a group that oversees United Arab Emirates offset obligations arising from defence sales to the country.

In addition to the 25-aircraft acquisition, Oasis International has also increased the size of its regular portfolio by taking on a pair of Emirates A340s and a US-operated Boeing 737.

• Airbus says it is finalising a deal from an undisclosed leasing company for four A350s.

DAVID KAMINSKI-MORROW / LONDON