Riyadh-based lessor AviLease has completed its acquisition of Standard Chartered’s aircraft leasing business in a deal worth US$3.6 billion.
Taking place only 16 months after AviLease was launched in July 2022, with this acquisition, the combined business owns and manages 167 aircraft leased to 46 airlines worldwide.
Edward O’Byrne, Chief Executive Officer at AviLease, said: “Today marks an important milestone for AviLease. With the completion of this acquisition, we are strengthening our position in the global aircraft leasing sector, in line with our ambition to become a top-10 global lessor by 2030.”
“Through the expanded scale and synergies, we aim to accelerate our path towards an investment-grade rating,” he added.
The transaction was initially announced in August.
