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

Turkish Airlines to commence flights to Freetown

Turkish Airlines is to launch flights to Freetown.

Dana Air and ASKY sign interline agreement

An interline agreement has been reached between Dana Air and Asky airline, reports Afritraveller.

Boeing 737 MAX 9 awarded FAA certification

Boeing has announced that the 737 MAX 9 has received an amended type certificate (ATC) from the U.S. Federal Aviation Administration (FAA), officially certifying the aircraft for commercial service.

Exhilarating aerial race heads to Africa

The world’s only long distance paramotor race, the Icarus Trophy, will visit Africa for the first time.

Bombardier reports fourth quarter and full year 2017 results

Bombardier has released its fourth quarter and full year 2017 results, highlighting solid financial and operational performance across the company.

Bruno Even appointed CEO of Airbus Helicopters

Airbus SE has appointed Bruno Even, 49, Chief Executive Officer (CEO) of Airbus Helicopters, effective 1 April 2018. He will report to Airbus CEO Tom Enders and join the company’s Executive Committee.

Aviation Africa SK18418
See us at
Aviation Africa BT18418Global Aerospace BT010518