AFRICAN AIRCRAFT LEASING COMPANY MAKES WAVES
(Posted 03rd October 2018)
The VELING GROUP was founded in 2002 with a mission to offer solutions to their aviation partners by engaging and retaining the best talent to build long term mutually beneficial relationships.
The Veling Group today focuses on leasing, sales and remarketing of commercial airliners and executive jets, aircraft asset management and structured finance. The group also owns and operates YU Lounge (https://www.yulounge.com), a state-of-the-art private airport terminal in Mauritius.
Its unique business model enables it to cater for a discerning, high-end clientele on both commercial and private aircraft and to provide FBO services to aircraft operators.
On the board of the company, chaired by Capt. David Savy, the former long serving Air Seychelles CEO and now Chairman of the Seychelles Civil Aviation Authority, are such well known personalities like Vijay Poonoosamy, former Managing Director of Air Mauritius and perhaps best known as former Vice President of Etihad Airways when he was in charge of International Affairs, Corporate Communications and PR and now a Director at the Q1 Group in Singapore.
Veling has specialised in structured finance and the company has been able over the years to raise billions of Dollars to finance B777-300’ and A380 acquisitions from Japanese banks for their customers, among them Emirates which has sold to Veling and leased back five Airbus A380’s. A similar deal with Emirates for the sale and leaseback of five Boeing B777’s was also struck, besides JOLCO financing for Emirates of a further two A380’s and eight B777-300ER’s.
Delta Airlines, TransAero and Sri Lankan are also among Veling’s clientele.
In addition has Veling found homes for a large number of Singapore Airlines owned surplus aircraft which included B777’s and B747’s.
The Veling Group is headquartered in Mauritius but also has offices in Dubai and is a shining example of how aviation success in such a highly specialised and hotly contested market is possible in Africa, given the right leadership and vision.