Clifford Chance
Clifford Chance advises Standard Chartered on sale of its global aviation finance business
4 September 2023
- Nicholas Rees , Ranbir Hunjan , Ryan Wild , Philippa Lawson , Nicola Hemsley , Richard Kalaher , Edward Page , Viktoria Parkhomenko , Chinwe Odimba-Chapman , Francesca Baker , Mark Comber , Brian Concklin , Chandralekha Ghosh , Eva Kurban (She/Her) , Virginia Lee , Joanne Lau , Liam Porritt
- London , Washington D.C. , Hong Kong
Clifford Chance advises Standard Chartered on sale of its global aviation finance business
International law firm Clifford Chance advised Standard Chartered on agreements to sell its global aviation leasing business to AviLease and a portfolio of secured aviation loans to PK Airfinance. Both transactions are expected to complete towards the end of 2023.
The multijurisdictional cross-practice team was led by Corporate partner Nicholas Rees and Aviation Finance partner Ranbir Hunjan. They were supported by senior associates Ryan Wild and Philippa Lawson and associate Liam Porritt. Partners Nicola Hemsley and Richard Kalaher, Director Edward Page and associate Viktoria Parkhomenko advised on the tax aspects of the transactions. Employment advice was provided by partner Chinwe Odimba-Chapman and senior associate Francesca Baker, commercial law advice by senior associate Mark Comber and antitrust advice by partner Brian Concklin, counsel Chandralekha Ghosh and associate Eva Kurban. Partners Virginia Lee and associate Joanne Lau provided Hong Kong law support.
Standard Chartered’s Aviation Finance business compromises a global aircraft leasing and financing operation. Its global aviation leasing business owns and manages a fleet portfolio of over 120 aircraft on lease to over 30 airlines.
Headquartered in Riyadh, Saudi Arabia, AviLease was launched in 2022 and offers leasing, trading and asset management services. The company’s business strategy is to expand rapidly to become one of the world’s top 10 leasing companies.
Apollo-backed PK Airfinance is an established debt provider to airlines and lessors and presently manages aviation loans across 400 assets with over 80 operators.
