AAELCO Arabian Aircraft & Equipment Leasing
BAN's World GazetteerBahrain
Bahrain Executive Air Services (Bexair) is to add three aircraft to its charter fleet, including a Challenger 604 which it says will arrive in mid-December. The company also reports that it has established its own aircraft leasing company, Arabian Aircraft & Equipment Leasing Co. (AAELCO).
The company says that AAELCO provides the aircraft leases for its fleet and will provide its services to customers throughout the region.
Mansour Al-Tassan, Bexair and AAELCO's chairman and ceo stated: "We anticipate providing a vehicle for large amounts of Islamic investments via AAELCO, as these kinds of asset based financing transactions are particularly well-suited to Sharia compliant investing."
AAELCO will assist customers to select the right aircraft for their use through its aircraft evaluation and purchase consultancy, then finance the aircraft and finally offer full support, management and maintenance through Bexair.
Bexair says that AAELCO has a solid record in aircraft leasing and can offer attractive leases in places that have traditionally found commercially sensible leasing deals to be difficult.