Jet firm takes off

COMPANIES that want to boost their corporate image with a private jet but cannot afford the cost of buying one are to be offered the chance to lease one under an innovative new scheme.

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.