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Trowers & Hamlins advises Oman Brunei Asset Management on fifth aircraft delivery in 12 months

Trowers & Hamlins advises Oman Brunei Asset Management on fifth aircraft delivery in 12 months

Trowers & Hamlins is pleased to have advised existing client Oman Brunei Asset Management SAOC (OBAM) in the leasing of one new Boeing 737-900ER aircraft to Oman Air with third party funding from DVB SE, London Branch.  The 737 aircraft was delivered in early November, and is the fifth aircraft delivery Trowers & Hamlins has advised OBAM on in the last 12 months.

OBAM, previously known as Oman Brunei Aviation Leasing Company (OBALC), completed the purchase of a new Boeing aircraft, which was immediately placed on long-term lease to Oman Air, the national airline of the Sultanate of Oman.  The aircraft was previously ordered by the airline and is the fifth and final B737-900ER delivery by OBAM since November 2014.

Simon McLean, OBAM’s CEO, commented:  “Once again, we have provided Oman Air with a competitive leasing solution and I am pleased to expand our relationship with Oman’s national airline.  Oman Air remains a cornerstone client for OBAM and we look forward to supporting the airline in the years to come.  OBAM’s shareholders continue with their plan to launch an aviation leasing fund in the Muscat capital market this year and the Oman Air transactions, which are to be the first products acquired by the fund, providing prospective investors with clear visibility on what their money is going to be invested in.”

Roger Clarke, Banking and Finance partner at Trowers & Hamlins who led on the deal, added:  "We are pleased to have advised OBAM on this series of aircraft leasing deals with Oman Air."   

OBAM is Oman’s very first aircraft leasing company, specialising in the provision of tailored leasing, sales, asset management and remarketing solutions to leading airlines and investors.  OBAM is owned by Oman Brunei Investment Company and the State General Reserve Fund of the Sultanate of Oman.

In addition to Roger Clarke, Banking and Finance solicitor Simon Valner assisted with the deal.