A new name in executive jet leasing was launched at EBACE – but with some familiar faces at the helm.
Veling Tayara, which is setting out to offer innovative leasing structures and simple and straightforward “off balance sheet” financing, is headed by former Embraer Executive Jets chairman Ernie Edwards and former Embraer vice president of sales for Europe, Middle East and Africa, Colin Steven, who is managing director of the new company.
“Our structured finance model provides more than just an operating lease package for a client’s business jet. Instead of tying up an owner’s cash, an operating lease will permit the owner to invest in appreciating assets instead of depreciating capital equipment,” Edwards says.
The new venture will be headquartered in Dubai and is part of Mauritius-based airline leasing firm Veling headed by former Air Mauritius chief Nirvan Veerasamy.
“Veling Tayara will remove the burden of owning the asset and provide inherent options throughout the lease period. It will provide flexible operating leases designed to clients’ individual needs, permitting upgrades to larger, newer aircraft as the business grows.” Steven said.
“Together, my board and I believe there is a service we can provide the business jet financing world that places the client in the enviable position of not having to worry about aircraft disposal at the end of the lease. At that time, the operator can have the simple choice of either extending the lease or returning the aircraft. It’s as simple as that,” Edwards said.