Dublin based Pembroke Aircraft Leasing paid a dividend of nearly $50m to its parent before its sale by Standard Chartered to AviLease.
AviLease purchased the global aviation finance leasing business from Standard Chartered by paying $700 in cash and clearing approximately $2.9bn in intra-group financing.
Standard Chartered’s leasing business consisted solely of Pembroke units based in Ireland and other jurisdictions, including China.
At the time of the sale, Pembroke units had over 120 aircraft leased to 30 airlines.
Pembroke Aircraft Leasing Holdings recorded net operating income of $72.8 in 2022, a decrease from $138.4 in 2021, while lease revenue remained relatively unchanged at around $338.2.
AviLease, backed by the Saudi government’s Public Investment Fund, now owns a total aircraft portfolio of 167, valued at $6 billion.
AviLease plans to expand its portfolio to 300 aircraft worth approximately $20bn by 2030 and aims to secure an investment-grade credit rating by the end of next year.
The company intends to increase its customer base from 47 to 100 airlines, particularly targeting flydubai and Emirates, and is actively engaging with operators in the Middle East region
