Saudi Avilease completes its acquisition on Standard ‎Chartered’s aircraft leasing business $3.6 billion‎

Avilease, which specializes in aircraft leasing and is owned by the Public Investment Fund, announced its acquisition of the aircraft leasing business of Standard Chartered Bank for a value of $3.6 billion.

The company said in a statement that this acquisition now makes its own and operate 167 aircraft leased to 46 airlines around the world.

It added that she obtained a loan worth $2.1 billion from 10 banks to implement the deal, which are: “Al Ahli Bank of Kuwait,” “Abu Dhabi Commercial Bank,” “First Abu Dhabi Bank,” “Mizuho Bank,” and “Natixis.” And Standard Chartered Bank, in addition to the initial subscription banks: BNP Paribas, Citibank, HSBC Bank Middle East, and MUFG Bank.

Edward O’Byrne, CEO, said: “Today represents an important milestone for the company. With the completion of this acquisition, we strengthen our position in the global aircraft leasing sector, in line with our ambition to become among the top ten in the aircraft leasing sector.”