Standard Chartered PLC SC explores alternatives for aviation unit (3667M)
11 Janvier 2023 - 08:45AM
UK Regulatory
TIDMSTAN
RNS Number : 3667M
Standard Chartered PLC
11 January 2023
Standard Chartered explores strategic alternatives for aviation
unit
11 January 2023, Dublin, London, Hong Kong - Standard Chartered
announces today that, consistent with its business strategy
outlined in February 2022, it intends to explore alternatives for
the future ownership of its aviation finance business.
Standard Chartered's aviation finance business, which includes
Pembroke, is a leading global aircraft leasing and financing
operation. It manages a modern fleet of aircraft and serves airline
and financial institution clients across North America, Europe,
Asia, Africa and the Middle East. The aviation finance business
represents around 2 per cent of total Group income and around 1 per
cent of Group RWA.
Commenting on the announcement, Simon Cooper, Chief Executive
Officer of Corporate, Commercial & Institutional Banking and
Europe & Americas at Standard Chartered said: "Our aviation
finance business is an established global franchise with a
differentiated track record of originating and servicing aircraft
leasing and lending transactions, high-quality aircraft and loan
portfolios, world-class airline relationships and a proven and
respected management team. We believe that a new owner can drive
the next phase of growth whilst we continue to focus on our
commitment to improve shareholder returns and delivering on our
2024 targets."
Standard Chartered is being supported by J.P. Morgan Securities
plc as its financial advisor in connection with a potential
transaction.
For further information, please contact:
Gregg Powell, Head of Investor Relations: +44 (0) 20 7885 5172
Adnan Akhtar, Head of Sell-Side, Investor Relations: +44 (0) 20 7885 7255
Piers Townsend, Media Relations: +65 9005 9067
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END
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