Aircraft leasing company Avilis, wholly owned by Saudi Arabia's Public Investment Fund, has signed an agreement to acquire Standard Chartered's aircraft operating and leasing platform, worth up to $3.6 billion. The agreement provides an opportunity to benefit from the expertise and experience of the Standard Chartered team, bringing together two strategically integrated companies, which will result in diversification within the Avilis scope and global development and growth. Under the agreement, Avilis will acquire a diversified portfolio of 100 narrow-body aircraft, while at the same time becoming the leasing provider for 22 other aircraft.
Source (Al-Asharq Al-Awsat Newspaper, Edited)
