A couple of former Embraer executives have formed a new leasing business in Dubai to provide simple and straightforward executive jet aircraft leasing to business aviation. The company was launched at EBACE last week.
The new company, Veling Tayara is a part of the airline leasing company, Veling, based in Mauritius and headed by Nirvan Veerasamy, former chief of Air Mauritius.
Ernie Edwards and Colin Steven, both former executives of Embraer Executive Jets are setting out to bring new types of leasing structures with simplified financing that will offer far more flexibility, allowing clients to upgrade or change the agreement as their businesses change.
Mr Edwards said, “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.”
“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.”
“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,” said Mr Steven.