Middle East lessors fleets set to grow, says expert
The Middle East's lessors' fleets are set to grow with its key regionally-based suppliers, Kuwait's ALAFCO, DAE Leasing and IFAC carrying strong order books.
That’s the prediction from Richard Evans, Senior Consultant of FlightAscend Consultancy addressing the annual Airline Engineering & Maintenance Middle East conference in Abu Dhabi.
Evans said that currently 36% of the Middle East’s total jet fleet is on operating lease with Emirates having the largest leased fleet of the big four at 53%. EK is ahead of Etihad with 24% of its fleet on lease, Qatar on 36% and Saudia on 27%.
Yet despite the strong regional demand for leasing, only one Middle East-based lessor – Kuwait’s Aviation Lease and Finance Company (ALAFCO) is ranked among the industry Top 20 suppliers according to Flight Fleets Analyser.