Gulf Air wins AFJ Global Award

Manama, June 11 (BNA): Gulf Air, the national carrier of the Kingdom of Bahrain, in cooperation with Castlelake, a global alternative investment firm with nearly 18 years of experience in investing, financing and managing aviation assets, has been awarded Innovative Deal of the Year at the Air Finance Awards. Global Journal.

The annual awards are one of the aviation industry’s most prestigious events, honoring outstanding global achievements in aviation finance, including aircraft leasing, financing and investment. The awards are receiving wide attention from industry leaders, investors and key officials in the aviation industry.

Gulf Air and Castlelake have achieved another significant milestone in aviation finance with the conclusion of a deal to finance the purchase of 10 Airbus A321neo aircraft through Pre-Paid Financing (PDP).

This latest achievement adds to the series of successful strategic initiatives undertaken by the two companies, as the award was received by Zayed Al Zayani, Chairman of Gulf Air Group Holding (GFG) and Adnan Hashim, Chief Financial Officer (CFO), at a ceremony in London.

“This global award reflects the success of the GFG Group in enhancing the contributions of the aviation sector to economic development, in line with the vision and directives of His Majesty King Hamad bin Isa Al Khalifa, and the support of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, which It leads to achieving the aspirations of His Majesty the King, said Zayed Al Zayani, Chairman of the Board of Directors of GFG Group.

He added, “The partnership between Gulf Air and Castlelake represents an innovative financing model that is in line with plans to develop the infrastructure of the aviation sector and enhances Gulf Air’s position and performance, as it is reflected in service levels and the achievement of strategic objectives.”

The Chairman of the Board praised the contributions of the company’s executive management to the implementation of the deal, expressing his keenness to strengthen the partnership as Gulf Air continues to modernize its fleet, improve passenger services and increase fuel efficiency.

Chris Buckley, Castlelake Partner and Director of Aviation Marketing, said: “We believe that our integrated PDP and lease financing solutions, aimed at meeting the needs of our partners, demonstrate Castlelake’s ability to provide tailored financing solutions to aircraft operators and asset owners around the world.”

He added, “We look forward to building a long-term partnership with Gulf Air and supporting its commitment to modernizing and increasing the efficiency of aviation infrastructure as part of its national economic development strategy.”

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