AviLease acquires aircraft Stanchart’s leasing business

AviLease, the rising global aircraft lessor wholly owned by the Public Investment Fund (PIF), Kingdom of Saudi Arabia’s sovereign wealth fund, announced on Monday it reached a definitive pact to purchase aircraft leasing business of Standard Chartered. The acquisition will provide AviLease scale, global diversification, and the opportunity to leverage Standard Chartered’s operating capabilities. As part of the US$3.6 billion acquisition, AviLease will acquire a portfolio of 100 narrow body aircraft, while becoming servicer for another 22 aircraft. The combined platform will own and manage 167 of the latest technology, fuel-efficient aircraft.