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Rietumu Funds the Purchase of a Gulfstream Business Jet

28-Jan-2016 / Products & Services Rietumu Bank has completed yet another new Gulfstream business jet purchase funding transaction.

This jet, which complies with the most recent global private aviation standards, will be used for the needs of one of the biggest international customers of the bank.

Currently, Rietumu Bank is offering its customers, both in Latvia and other countries, funding for the purchase of private jets both for business and personal needs, as well as crediting against pledging a business jet already owned by the customer.

As noted by Renats Lokomets, Member of the Board of Rietumu Bank: "Over the past years, private jets are becoming more and more in demand, including our international customers who are conducting their business in CIS countries, Europe and other regions of the world. We understand their interests and are planning to grant the required funding for purchasing business jets in the future as well. Taking into regard the prospects of this direction, it can be forecast that Latvia, which at present is an important international transport hub for private aviation, will also gradually become an international private aviation funding hub."

The developing servicing infrastructure is also fostering the growing popularity of private aviation. For instance, last year, FBO RIGA, the biggest specialised business aviation terminal in the Baltic states, was opened in Riga.

"The cooperation between Gulfstream and Latvia's JSC Rietumu Banka illustrates the benefit financial expertise and backing has on the continued success of business aviation in the region," said Richard Chiariello, director, contract management, Gulfstream, "Our teamwork with Rietumu is another way that we can help support our customers and deliver on our promises."

The business jet funded by Rietumu Bank is manufactured by American company Gulfstream Aerospace, which was incorporated in 1958 and was the first company in the world to start specialising in manufacturing private airliners.

Now, Gulfstream Aerospace is manufacturing the most state-of-the-art business jets and has 11 specialised service centres all around the world. As regards servicing, the legendary company slogan 'Consider It Done' has ensured the company has received the highest rating in the Aviation International News’ annual survey research for more than a decade already.

Rietumu Bank specialises in servicing corporate customers with international business interests, as well as affluent private entities. The Bank offers a complete range of financial services, including crediting and funding of trade operations. Rietumu Bank also provides funding of water transport (commercial vessels, motor and sail boats), and railway rolling stock. Rietumu Bank's representations and offices operate in Latvia, Russia, Kazakhstan, Armenia, Belarus, Ukraine, Romania, and Turkey.

Eleonora Gailisha
Mass Media and Public Relations
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