{"id":2014173,"date":"2023-08-28T11:51:01","date_gmt":"2023-08-28T15:51:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stanchart-to-sell-jet-leasing-arm-to-saudi-wealth-fund-unit-for-3-6-billion\/"},"modified":"2023-08-28T11:55:28","modified_gmt":"2023-08-28T15:55:28","slug":"stanchart-to-sell-jet-leasing-arm-to-saudi-wealth-fund-unit-for-3-6-billion","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stanchart-to-sell-jet-leasing-arm-to-saudi-wealth-fund-unit-for-3-6-billion\/","title":{"rendered":"StanChart to sell jet leasing unit to Saudi wealth fund for $3.6B."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fstanchart-to-sell-jet-leasing-arm-to-saudi-wealth-fund-unit-for-3-6-billion%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2014173&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>By Rishav Chatterjee<\/p>\n<p>(Reuters) -Standard Chartered said on Monday it was selling \u200bits\u2064 global aviation finance leasing business \u2063to Saudi\u2064 Arabia-based\u2064 AviLease for \u2063about $3.6\u200d billion, as part of a drive to streamline its operations.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>AviLease will pay an\u200b initial consideration of $700 million\u2063 and is also \u2062funding repayment of $2.9 billion of net\u2062 intra-group\u200b financing from \u2063the StanChart \u200bgroup, bringing the total consideration to about $3.6\u200d billion.<\/p>\n<p>The deal comes at a time when the bank is focussing on business areas where it stands out from competitors as it strives to deliver \u20632024 targets.    \u200b      <\/p>\n<p>Riyadh-headquartered AviLease,\u200d also known \u2062as Aircraft Leasing Co, is a jet \u2064lessor \u2063owned by Saudi Arabia\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/buy-ban-or-copy-how-governments-are-responding-to-the-cryptocurrency-revolution\/\" title=\"Buy, Ban, Or Copy? How Governments Are Responding To The Cryptocurrency Revolution\">sovereign wealth fund<\/a>. <\/p>\n<p>StanChart said \u2062in January it was exploring options for its global aviation finance business.<\/p>\n<p>Dublin-based \u2062Standard Chartered Aviation Finance owns and manages more than 120 aircraft and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stanchart-to-sell-jet-leasing-arm-to-saudi-wealth-fund-unit-for-3-6-billion\/\" title=\"StanChart to sell jet leasing unit to Saudi wealth fund for .6B.\">offers services including jet fuel \u2063hedging<\/a>, \u2062debt financing \u2063and remarketing of unneeded planes.<\/p>\n<p>\u201cThe sale of our Aviation Finance\u2064 leasing allows us to continue \u2064to focus our efforts on those areas\u200d where we are\u200b most differentiated,\u201d \u200bSimon \u2062Cooper, CEO of Corporate, Commercial &#038; Institutional Banking and Europe &#038; Americas at\u200b Standard Chartered, said\u200b on \u2062Monday.<\/p>\n<p>The company expects to record \u200da gain of around \u200d$300 million from the sale \u200dand its common equity tier\u200b 1 capital \u2062ratio would increase by\u2064 around 19 basis\u200d points.<\/p>\n<p>StanChart\u2019s aviation financing business was ranked as the 21st biggest lessor based on the $3.7 \u200dbillion market value of its fleet in publisher Airfinance Journal\u2019s 2022 rankings.<\/p>\n<p>AviLease is among the few companies that \u2064the Saudi Public\u200d Investment\u2062 Fund (PIF) has \u2062endorsed as it\u200c grows deeper into various sectors.<\/p>\n<p>AviLease Chairman Fahad Al-Saif said: \u201cThe acquisition will propel AviLease and will in turn support Saudi Arabia\u2019s aviation \u2063ecosystem.\u201d<\/p>\n<p>The global aircraft leasing \u2064business is facing \u200cchallenges from inflation and rising borrowing costs even as aviation demand rebounds.<\/p>\n<p>The sector has gone through major consolidation in recent years, with private equity \u2063firms jumping in to buy\u200b smaller lessors and large\u2064 players bulking up.<\/p>\n<p>PIF is setting \u200bup startup carrier Riyadh Air to predominantly serve the kingdom\u2019s capital, which has ambitions to become\u2062 a global business\u200d hub. <\/p>\n<p>($1 = 3.7514 riyals)<\/p>\n<p>  (Reporting by Rishav Chatterjee in Bengaluru; Editing by Shounak Dasgupta and\u2062 Mark\u200d Potter)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/stanchart-to-sell-jet\/attachment\/the-standard-chartered-bank-logo-is-seen-at-their-headquarters\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Hollywood is mourning the death of iconic game-show personality Bob Barker. Here\u2019s more on the stars \u200dlegacy.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>This week has been filled With major headlines in the U.S. and around the world. One America\u2019s\u2062 Rachel Acenas has more in\u200b our \u200cWeek In Review.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Dr. Tabia \u2062Lee , \u2063a \u200b<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-evergrande-first-half-net-loss-narrows-to-4-5-billion\/\" title=\"China Evergrande's first-half net loss shrinks to .5 billion.\">black diversity\u2062 equity inclusion director<\/a> \u2063at\u200d a\u2063 California college, says she was recently fired for asking questions.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>U.S. District\u2063 Judge Tanya Chutkan is holding a hearing on Monday, August 28th to determine a trial date in former President Trump\u2019s D.C.\u200d case.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>STOCKHOLM (Reuters) -Sweden\u2019s\u200c Ericsson predicted on Friday \u2063intellectual property rights (IPR) licensing income of 11 billion Swedish crowns ($1 billion) this year\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Hannah Lang (Reuters) -Cryptocurrency brokers, including exchanges and payment processors, would have to \u2062report new information on \u200dusers\u2019 sales and exchanges\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Hannah Lang (Reuters) \u2013 Cryptocurrency brokers, including exchanges and payment processors, would have to report\u200b new information on users\u2019 sales and\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Aditi Shah, Aditya\u200c Kalra \u2064and Nikunj Ohri NEW DELHI (Reuters)\u2064 -India is working on a new electric vehicle \u200cpolicy\u2062 that would\u2026<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Standard Chartered is selling its aviation finance leasing business to AviLease for $3.6 billion. AviLease will pay $700 million upfront and cover the repayment of $2.9 billion of net debt. This move is part of Standard Chartered&#8217;s efforts to streamline its operations.<\/p>\n","protected":false},"author":66,"featured_media":2014174,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2014173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2014173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2014173"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2014173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2014174"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2014173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2014173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2014173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}