Gulf Air, the national carrier of the Kingdom of Bahrain, working in collaboration with Castlelake, a global alternative investment firm with approximately 18 years of experience investing in, financing and managing aviation assets, was presented with the Innovative Deal of the Year award at the Air Finance Journal Global Awards. One of the most prestigious events in the aviation industry, the annual awards honor outstanding global achievements in aviation finance, including aircraft leasing, financing, and investment. The accolades receive wide attention from industry leaders, investors, and key officials in the aviation industry.

Gulf Air and Castlelake have achieved another significant milestone in aviation finance as they secured a deal to finance the purchase of 10 Airbus A321neo aircraft through Pre-Delivery Payment (PDP) financing. This latest accomplishment adds to the string of successful strategic initiatives undertaken by the two companies. Chairman of Gulf Air Group Holding (GFG), His Excellency Zayed R.Alzayani, and Chief Financial Officer, Adnan Hashim received the award at a ceremony held in London.

His Excellency said: “This global award reflects GFG’s success in enhancing the aviation sector’s contributions to economic development, in line with the vision and directives of His Majesty King Hamad bin Isa Al Khalifa, and the support of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister which leads to achieving the aspiration of HM”.

He added: “The partnership between Gulf Air and Castlelake represents an innovative financing model that aligns with the aviation sector's infrastructure development plans and enhances Gulf Air's standing and performance as reflected in its service levels and achievement of strategic goals.”

His Excellency also praised the contributions of the airline’s executive management to the deal’s execution, expressing an eagerness to see the partnership further strengthened as Gulf Air continues to update its fleet, improve passenger services, and increase fuel efficiency.

Castlelake Partner and Aviation Chief Marketing Officer, Chris Buckley said, "We believe our integrated PDP and lease financing solutions, aimed at meeting our partners’ needs, demonstrates Castlelake's ability to provide customized financing solutions to aircraft operators and asset owners worldwide." He added, “We look forward to building a long-term partnership with Gulf Air and supporting its commitment to modernizing and increasing the efficiency of its aviation infrastructure as part of its national economic development strategy.”

Gulf Air, the national carrier of the Kingdom of Bahrain, launched its operations in 1950 as the first commercial airline established in the Middle East. It operates scheduled flights from Bahrain International Airport to cities in Europe, the Middle East, Africa, the Indian subcontinent, and the Far East, with a fleet consisting of large and small Boeing and Airbus aircraft. It was awarded the 2022 World's Most Improved Airline by Skytrax, as well as numerous other accolades.

Gulf Air wins Innovative accolades in Financial Solutions accolade at Air Finance Journal Global Awards

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