in Business Aviation / Business & Finance

African business aviation to get financing boost through AfBAA deal

Posted 24 April 2014 · Add Comment

Organising finance for business aviation may just be getting a little bit easier thanks to a breakthrough deal being led by the African Business Aviation Association (AfBAA).


Speaking at the show yesterday, AfBAA’s chairman, Tarek Ragheb (pictured right) , said an agreement with an as yet unnamed export guarantee agency could see a quarter of a billion dollar fund being confirmed in the next month.
“As vice president of Gulfstream in Africa for more than 20 years, I know that one of the biggest barriers to acquisition is finance,” Ragheb said. “It is particularly difficult in emerging markets. Now we will see an Africa specific fund that will allow owners to acquire their aircraft without having to leave the continent and through their local banks.”
He said that the fund was “just a start. “. “We recognise that it could mean just four of five of the large airplanes but the future could see other agencies involved in the funds and increasing to $500 million.
Ragheb said the African business aviation market was growing dramatically. Featuring some of the fastest growing economies in the world Ragheb said AfBAA would be closely monitoring the number of aircraft in the continent in order to get an accurate comparison to markets in Europe, Asia and the Middle East.
 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Oslo intensifies African connections by adding Addis Ababa to its route

Avinor's Oslo Airport has announced the addition of Addis Ababa to its route network with new airline partner Ethiopian Airlines.

Airbus Defence and Space appoints four new Executive Committee members

Airbus Defence and Space has appointed Jana Rosenmann, Grazia Vittadini, Bernhard Brenner and Peter Weckesser as new executive committee members.

Travelport appoints new Head of Product & Solutions in EMEA

Travelport has appointed Jasmeen Kaur in the role of head of product and solutions EMEA.

Dyncorp International to provide aviation field maintenances services for US Army in Egypt

The US Army has engaged defense contractor DynCorp International to provide aviation field maintenance services in Egypt and the Netherlands on behalf of the Aviation Field Maintenance Division, which is a component of the Army

ASKY Airlines confirms Southern African debut for early 2Q17

ASKY Airlines has confirmed it will make its Southern African debut early during the next quarter, reports ch-aviation.

First Nation Airways suspends operations again

Nigeria's First Nation Airways has suspended operations for a second time in six months, reports ch-aviation.

EBACE17 SK0103240517
See us at
EBACE17 BT0103240517GroundHandling BT0303280917Ethiopian AA BT2303130417Aviation Festival BT25114617