Standard Chartered Bank completed the purchase and leaseback of 2 new Airbus 320-200 aircraft for Bahrain’s national carrier Gulf Air.
The transaction involved the acquisition of two A320-200 aircraft and the lease of the aircraft to Gulf Air, on operating leases for an eight-year period by Pembroke, a wholly-owned subsidiary of Standard Chartered. The aircraft were purchased from Airbus and delivered to Gulf Air recently.
“The deliveries of new Airbus A320-200s continue to support our leadership position as the carrier with the largest network in the Middle East. We are pleased to expand our relationship with Standard Chartered and diversify our financing relationship to support aircraft acquisition,” said Gulf Air's Chief Executive Officer (EO) Samer Majali.
“Standard Chartered Bank is proud to partner Gulf Air and to support the company as it builds for the future. This transaction is an excellent example of the range of Standard Chartered’s capabilities and our flexibility in providing financial solutions which meet our clients’ needs,” added Jonathan Morris, CEO, Standard Chartered Bank Bahrain.