Following the success of its first year of operation, FALAK Investments Ltd. (FALAK) invited selected GCC investors to participate in its flourishing aircraft leasing venture. FALAK’s road show took place in Dubai on April 22, 2008 at Al Murooj Rotana Hotel, in Kuwait on April 23, 2008 at J.W. Marriott Hotel and in Qatar on April 24, 2008 at Inter-Continental Hotel.
Established in 2007 as a joint venture between United International Bank (UIB) and Muzun Partner Ltd. (a company related to Novus Aviation), FALAK is -co-sponsored by International Leasing and Investment Company (ILIC) and backed by several GCC financial institutions including First Leasing Bank.
Today, FALAK’s portfolio comprises of 11 aircraft with a capital of $130 million. The strength of its portfolio lies in the fact that it is well diversified with various aircraft types leased to different quality airlines across the globe. Return on investment achieved in 2007 was in excess of 12% and dividends of 8.5% were distributed to investors during the first year of operation. FALAK is likely to keep generating quarterly dividend distribution of at least 8.5% per annum over the investment term.
FALAK plans an increase in capital within the next few months to cope with the overwhelming feedback from selected GCC institutional investors to participate in the aircraft leasing industry.