State Transport Leasing Company (GTLK), the largest leasing company in Russia, has opened its new subsidiary for the Middle East region in Dubai, UAE.

The company had in 2012 opened its first international office in Ireland followed by an Asian unit in Hong Kong this September. The group recently registered its subsidiary GTLK Middle East in Dubai.

The company leases air, water and rail transport, automotive and special equipment for domestic enterprises of the transport industry, as well as invests in the development of Russian transport infrastructure.

The sole shareholder of the company is the Russian Federation represented by the Ministry of Transport of the Russian Federation.

From its new Dubai office, GTLK will start leasing aviation equipment to airlines of the Middle East and Africa region.

"We've started developing GTLK Global, a full featured leasing platform, abroad. Our first foreign "daughter", the Irish GTLK Europe, has been operating for six years already with good results. The second one, GTLK Asia, was registered in Hong Kong in September," remarked Sergey Khramagin, the director general of GTLK.

"Considering the registration of GTLK Middle East, all three companies make up the foreign leasing platform which can be used to introduce Russian products (civil helicopters and aircraft) to international markets," he stated.

GTLK has double B credit ratings from three leading international rating agencies, as well as a national scale rating of A+(RU) from the ACRA agency. Its leasing portfolio exceeded $13.3 billion as of June 31, 2018.-TradeArabia News Service