Palma Capital Limited, Export Development Canada and De Havilland Canada Sign Memorandum of Understanding Regarding Dash 8-400 Aircraft Transactions

Provided by De Havilland Aircraft of Canada/CNW

DUBAI, Nov. 18, 2019 /CNW/ – Today, during the Dubai Airshow, Palma Capital Limited (“Palma”), Export Development Canada (EDC) and De Havilland Aircraft of Canada Limited (“De Havilland Canada”) announced that they have signed a Memorandum of Understanding (MOU) that outlines mutual cooperation between the three parties regarding potential Dash 8-400 aircraft transactions such as aircraft procurement and leasing opportunities and sale-leaseback opportunities for the Middle East and Africa.

Under the MOU, the parties expect to engage directly and/or indirectly to develop funding for the purchase of new De Havilland Canada aircraft assets for onward leases to third parties.  This MOU represents the first broad-based joint approach by Palma, EDC and De Havilland Canada.

Palma Capital’s President, Moulay Omar Alaoui said: “We see this as an important milestone to work on creative opportunity development in the regional aircraft sector.  This MOU will enhance our joint efforts as we work to engage interested airlines and finalize placement of new Dash 8-400 aircraft.”

“This MOU represents a starting position for De Havilland Canada to build on previous successes in placing aircraft at airlines with support from Export Development Canada,” said Todd Young, Chief Operating Officer, De Havilland Canada.  “We expect to move forward on various opportunities with this formalized understanding from Canada’s export credit agency in conjunction with Palma Holding as an experienced lessor of Dash 8-400 aircraft in the Middle East, Europe and Africa.”

“This collaboration with Palma and De Havilland Canada reflects our commitment to helping Canadian companies seize opportunities for international growth. We’re proud to support De Havilland Canada, a company that showcases Canadian aerospace technology and talent to the world,” said Jean-Bernard Ruggieri, EDC’s Chief Representative, Middle East and Africa.