Ibdar successfully exits fourth aviation deal
Bahrain-based wholesale Islamic Investment bank, Ibdar Bank, has announced the successful exit of three Q400 aircraft on lease to Falcon Aviation, marking the fourth successful aviation exit by the Bank within the last two years.
Commenting on the successful deal, CEO of Ibdar Bank, Ayman Sejiny said: “These successful exits further underscore the Bank as the reference aircraft leasing and investor platform in the GCC, and are testament to Ibdar’s capability for placement of future deals, and its ability to provide clients with income generating assets.”
The sale of the three aircraft, which were acquired in June & July 2015 and leased to Abu Dhabi based specialised airline Falcon Aviation Services, is the Bank’s fourth successful aviation leasing transaction in the last two years comprising the sale of nine aircraft. To date, the Bank has completed $277 million in aviation transactions, and is working on bringing to market new transactions in the sector to replace the exited assets.
Mohammed Kettani, Executive Director and Head of the Bank’s Private Equity division added: “The Bank continues to build its aviation vertical in line with investor demand for yielding products. Ibdar Bank, with the backing of its shareholders, will further develop its aviation leasing platform with the purchase of additional assets during 2017”
In addition to its signiﬁcant expertise in aviation investment, the Bank has built an impressive track record in infrastructure, maritime, oil and gas, and real estate among others.