PIF-backed AviLease completed the acquisition of the global aviation finance leasing business from Standard Chartered for $700m.

PIF-backed AviLease, an aircraft lessor with a portfolio of the latest generation, environmentally friendly aircraft, on lease to commercial airlines, completed the acquisition of the global aviation finance leasing business from Standard Chartered, a banking firm that provides banking and financial services, for $700m. “The sale of our Aviation Finance leasing business allows us to continue focusing our efforts on those areas where we are most differentiated, and make further progress on our Return on Tangible Equity journey. I want to thank our Aviation Finance colleagues, whose commitment to building an outstanding franchise over more than 15 years has enabled the success of this transaction,” Simon Cooper, Corporate, Commercial & Institutional Banking and Europe & Americas at Standard Chartered CEO.