Jet firm takes off
Thursday 07 January 1999
Corporate Aircraft Leasing Ltd (CALL), a joint venture between Capital Bank, the asset finance house of Bank of Scotland, and the Guernsey-based aviation group Exxtor, is to offer operating leases to the private business market.
CALL will be the world's first dedicated corporate aircraft operating lease company. The company plans to buy at least 50 aircraft worth $500m (pounds 350m) over the next four years.
CALL's first deal to be signed is with a European firm for a used Raytheon Hawker business jet valued at $10m.
It looks very much as though 2015 will be a good year for the world economy, after all – and, if it is, that will be thanks to the fall in the oil price. It won't be good for everyone and we have already seen the pressure it puts on the Russian leadership – though, before you conclude that sometimes there is natural justice in the world, remember that the people who are hurt are not leaders such as Vladimir Putin. Other oil- and gas-exporting countries are damaged, too, and I think we will see further fallout in unpredictable ways. But the net impact is strongly positive, more so than most commentators at present acknowledge. The winners far outnumber the losers.
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