Standard Chartered has sold $4.5bn in assets linked to aircraft leasing and financing, announcing two separate deals with Riyadh-based AviLease and with a company backed by US private equity group Apollo.
The banking group on Monday said it had sold its aircraft leasing business for $3.6bn, including operational assets worth $700mn and loans totalling $2.9bn, to AviLease, which is owned by Saudi Arabia’s PIF sovereign wealth fund.
It also agreed to offload secured aviation loans valued at $920mn to Apollo-backed PK Airfinance, a provider with a portfolio of $4bn across 80 operators globally.
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