AviLease, an aircraft lessor fully owned by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has announced the signing of a definitive agreement to acquire the aircraft leasing business of Standard Chartered, which includes the Dublin-based Pembroke Group. This strategic acquisition aligns with AviLease’s growth plans and Saudi Arabia’s Vision 2030 initiative, which aims to diversify the economy and create high-value employment opportunities.
Fahad Al-Saif, Chairman, AviLease said, “The Standard Chartered leasing business is an industry-leading platform combined with a team of high-calibre professionals with an outstanding reputation. This acquisition will propel AviLease and will in turn support Saudi Arabia’s aviation ecosystem, on our path to help realize the Saudi Vision 2030’s objective of diversifying the economy and adding high value employment opportunities for Saudi citizens.”