Formed in 2005. Partnered with the Al-Jomaih Group. Jet airplane leasing company.
UNITED ARAB EMIRATES (UAE) (AL IMARAT AL-ARABIYA AL-MUTTAHIDA): POPULATION: 3.5 MILLION. A FEDERATION OF 7 SHEIKDOMS, UNDER BRITISH PROTECTION UNTIL 1971, THE (UAE) HAS ROCKETED IN A GENERATION FROM RURAL AND POOR, TO URBAN AND OIL-RICH. THE MEMBER STATES ARE ABU DHABI, AJMAN, DUBAI, FUJAIRAH, RAS-AL-KHAIMAH, SHARJAH, & UMM-AL-QIWAIN. A FAVORITE DESTINATION FOR TOURISTS TO THE ARABIAN PENINSULAR, THE (UAE) IS NOTABLE FOR ITS LARGE POPULATION OF GUEST EX-PATRIOT WORKERS, MANY FROM INDIA AND PAKISTAN, AND ITS GENERALLY PROGRESSIVE ATTITUDE TOWARD WOMEN. THE (UAE) COVERS AN AREA OF 83,600 SQ KM AND ITS CAPITAL CITY IS ABU DHABI. THE OFFICIAL LANGUAGE IS ARABIC.
November 2005: Low-Cost Aircraft Leasing (LCAL) (LCL) finally has announced its order for six 787s. The order was placed in May and listed on Boeing (TBC)'s website, but no customer was identified. The deal is valued at approximately $780 million and deliveries will begin in September 2009, according to (TBC). The first leasing company to commit to the 787, (LCL) is planning to order another nine and will base its portfolio around the type. They will be powered by Rolls-Royce (RRC) (Trent 1000)s, although the company also is discussing the (GEnx) with General Electric (GE). "(LCL) represents a rare opportunity for (TBC) to partner with a new and innovative company from its inception," (TBC) VP Sales, Scott Carson said. "(LCL)'s low-cost business model and single-fleet concept represent a different, creative approach to the industry."