Morocco – ABL Aviation, First U.S. aircraft leasing company to open in Africa
ABL Aviation, set to become first U.S. aircraft leasing company based in Morocco by February 2018, according to a firm’s statement.
ABL Aviation, an aircraft investment management firm, is set to become the first aircraft lessor to open in Africa. Founded in 2014 by Moroccan born but now a U.S. citizen, Ali Ben Lmadani, ABL Aviation currently has locations in New York, Dublin, Hong Kong and Dubai.
The company aims to take advantage of the forecasted $3 billion aviation sector revenue in Africa that will see an increase of 5 million more passenger journeys per year on the continent.
CEO, Ali Ben Lmadani states, “This is a huge milestone for ABL Aviation as seven of the ten fastest-growing markets in percentage terms will be in Africa, with expected growth of more than 8% over the next twenty years. We aim to be at the forefront of that growth in a market that is traditionally neglected by other lessors and therefore developing highly innovative processes through the technical side of our business.”
By 2035, the African aviation market is expected to grow to 303 million international passengers, meaning massive opportunities are in store for lessors serving commercial airlines who will need to expand their fleet.
ABL Aviation’s Moroccan office will be home to over 20 employees, strongly focusing on the latest technical advancements, with global investors from multiple regions across the world.