AviLease confirms purchase of Standard Chartered leasing platform 

AviLease, the new aircraft leasing company from the Kingdom of Saudi Arabia, has acquired a portfolio of 122 aircraft from Standard Chartered along with its aviation platform for a total consideration of $3.6bn. AviLease has paid an initial cash consideration of $700 million and will also fund the repayment of approximately $2.9bn of net intra-group financing from the Standard Chartered Group. “This is a great step for us,” says AviLease chief executive Ted O’Byrne. “Not only is this happening at an ideal time in our development as a global leasing company, the acquisition was particularly attractive due to its high