Asia Cargo Network moves into aircraft leasing

Asia Cargo Network (the ACN Group), operators of Asia Cargo Airlines, MENA Cargo Airlines, RGA-Black Stone Airlines, and World Cargo Airlines, is pushing into the aircraft leasing sector after establishing a UK-based entity called ACN AeroLeasing. The joint venture between the ACN Group and Plane Invest Limited involves opening a physical office in London, which they say will better allow it to tap into the city's financial markets and service its clientele across Europe, the Americas, Africa and the Middle East.

“Our expansion into the UK signifies a critical milestone in the execution of our long-term strategic vision. This move underscores our steadfast commitment to offering the most competitive and effective leasing solutions to our international customer base,” said ACN Group Chairman Marco Isaak. In addition to bolstering ACN's existing aviation leasing arrangements, Isaak says the joint venture will help the company develop its business initiatives and result in a better all-round product.

London-based Plane Invest is the private investment vehicle of aviation industry veteran Hal Gamble. UK company records show ACN AeroLeasing (UK) Ltd was registered on April 18, 2023, with Gamble and Imanoudiene Bin Muhammad listed as the directors. Bin Muhammad is a Singaporean national and resident. ACN AeroLeasing's share capital is GBP100 pounds (USD124 dollars). According to its website, Plane Invest has, to date, invested in B737-300, B737-400, and Cessna (single turboprop) 208B Grand Caravan assets.

Spread across its various airline brands and aligning with Plane Invest's current investment interests, ACN Group's fleet includes two B737-400(F)s, seven B737-300(F)s, and B737-800(BCF)s. ch-aviation understands ACN AeroLeasing will primarily deal in Boeing Classic and NG aircraft types.