Riyadh based Aircraft lessor AviLease is in advanced talks to acquire Standard Chartered’s aviation finance unit, which includes Dublin-based Pembroke Aircraft Leasing. The deal is estimated to be worth up to €3.5bn.
Pembroke Aircraft Leasing is a leading global aircraft leasing and financing operation with clients worldwide. At the end of 2021, the firm owned 87 aircraft, generating lease revenue of $335.6m (€314.1m). In 2021, it posted a pre-tax profit of $57.2m.
AviLease, backed by the Saudi government, aims to scale up through various means, including secondary portfolio acquisitions, direct orders with aircraft manufacturers, corporate acquisitions, and purchase-and-lease-back transactions. Acquiring Standard Chartered’s aviation finance unit would provide additional scale and expand AviLease’s presence in the Middle East.
