EBACE Convention News

New Dubai-based Business Jet Leasing Firm Launches

 - May 21, 2014, 3:40 PM
Celebrating the Veling Tayara's launch is director Nirvan Veerasamy, chairman Ernie Edwards and managing director Colin Steven.

Veling Tayara, a new business jet leasing firm led by former Embraer Executive Jets president Ernie Edwards, was launched yesterday at EBACE 2014. The Dubai-based company is a subsidiary of airliner lessor Veling, which counts Emirates and Sri Lankan Airlines among its clients. Veling Tayara (the latter word meaning “aircraft” in Arabic) is focusing on five-year leases for young (three years old or newer) pre-owned and new midsize to large-cabin jets. It is targeting clients in the Middle East, Asia, Africa and former Soviet blocs, though it will also provide leases in other regions. “Our niche is the rich and super-rich that don’t want to go through the intensive financial screening that banks make them go through to obtain aircraft financing,” company chairman Edwards told AIN. He added that Veling Tayara has immediate financing available and can also provide structured leasing arrangements–a relatively new concept in the business jet market.