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National Air Services (NAS), the Saudi Arabian-based aviation
services company, and Pegasus Aviation Finance Company, the world's
largest privately-held independent commercial aircraft lessor, today
announced the closing of a sale and operating lease back transaction
for one Airbus A319-100 aircraft.
Mr. Taher Agueel, CEO, NAS, said: "We are delighted to have the
opportunity of entering into a long-term, and mutually beneficial,
relationship with Pegasus. This will be the first transaction NAS has
undertaken for a commercial aircraft with a lessor outside of the Gulf
region. Given the prospective growth plan of NAS over the coming
years, we look forward to doing more business with Pegasus."
Richard S. Wiley, President and Chief Executive Officer of Pegasus
Aviation, said: "Pegasus is committed to supporting NAS's growth
plans, as Mr. Agueel and his team are building an excellent business
based on delivering exceptional value and customer service. We're
thrilled to be a part of the dynamic growth in Saudi Arabia's air
transport sector and we view this important transaction as the first
of many that Pegasus anticipates in the Middle East Region."
National Air Services was formed in 1999 with a corporate vision
to be recognised worldwide as the premier aviation service provider in
the Middle East. The company now offers a unique portfolio of services
including the following:
-- One of only two licensed low-cost airline carriers in Saudi
Arabia
-- All Business Class VIP shuttle and charter services (branded
as Al Khayala)
-- Aircraft fractional ownership and leasing (under the NetJets
banner)
-- Aircraft Management
-- Aircraft Charter
-- Operational Support and Project Management (branded as OSPM)
Pegasus is one of the world's largest commercial aviation finance
companies, with a fleet of over 200 commercial passenger and freighter
aircraft. Based in San Francisco, with satellite offices in London,
Singapore, Miami and Buenos Aires, the company services a worldwide
customer base of over 90 carriers in over 45 countries. Led by
Founder/CEO Richard S. Wiley, Pegasus employs 62 fleet management
professionals. Pegasus provides a full suite of capital products to
its airline customer base, including operating leasing, finance
leasing, asset-based lending, engine finance, PDP's and derivative
products, as well as fleet management and administrative services for
third parties. Pegasus is a leader in next-generation technology,
having become one of the first lessors to order both the Boeing 787
and the Airbus A350.
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