Banking & Finance PIF’s AviLease in race to buy StanChart leasing unit By Pramod Kumar April 18, 2023 Retuers/Chris Helgren Dublin-based Standard Chartered Aviation Finance manages more than 230 aircraft Saudi sovereign Public Investment Fund-owned AviLease is competing to buy Standard Chartered Plc’s aviation finance business. The Riyadh-based jet lessor is among several firms shortlisted for the second bidding round for the unit, Bloomberg reported, citing unnamed sources. Dublin-based Standard Chartered Aviation Finance manages more than 230 aircraft and offers services such as jet fuel hedging, debt financing and remarketing unneeded planes. An acquisition of the business will allow AviLease to gain scale and expand its presence in major leasing markets in the Middle East and other parts of the world. The news report said that discussions are ongoing and could fall apart without an agreement. In January, Standard Chartered announced plans to sell its aviation finance business, which it acquired in 2007. AviLease was established last year as part of Saudi Arabia’s economic diversification initiative.