Waha Capital, the Abu-Dhabi-based diversified investment holding company, announced the delivery of four Bombardier CRJ900 aircraft to SkyWest Leasing Inc., a subsidiary of SkyWest Inc. the largest US regional airline on long-term operating leases. The aircraft will be used by one of SkyWest’s affiliates.
Salem Al Noaimi, CEO of Waha Capital PJSC said: “We are delighted to conclude this major transaction with such a leading US airline such as SkyWest. The lease deal consolidates Waha Capital’s position as one of the region’s key financial and investment institutions and raises its global profile in the aircraft leasing sector. We look forward to a long-term and productive relationship with SkyWest, which we see as an important partner in our effort to expand internationally.”
He further said: “The fact that this transaction has become a reality despite the challenging global economic environment points to Waha Capital’s fundamental strengths. At a time when most companies in this sector are postponing business expansion plans, our strong position allows us to actively look for new business opportunities. The success of this transaction encourages us to continue with our strategic growth plans.”
Michael Kraupp, Vice President Finance & Treasurer, of SkyWest Inc said: "We are very pleased to take delivery of the four Bombardier CRJ900 aircraft, which will allow us to better support the operations of one of our affiliates.”
The delivery of the Bombardier CRJ900 aircraft to SkyWest Leasing Inc. was managed by Waha Capital’s subsidiary, Waha Leasing, which has significant expertise in the aircraft leasing business. For more than a decade, Waha Leasing has been the UAE’s leading big-ticket leasing company, operating in the areas of aircraft, shipping and infrastructure. Waha Leasing is currently seeking to expand organically through acquisitions, joint ventures and partnerships.
Today, Waha Leasing manages or has a financing interest in over 100 commercial aircraft operating in four continents worth AED 16 billion ($4.32 billion). Apart from SkyWest Inc., its clients include Emirates Airlines, Singapore Airlines, Aeroflot, Qatar Airways, Air Canada and Malaysia Airlines.
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