| File photo of a Qatar Airways B777 - 300ER. This is the first sale and leaseback transaction entered into by Qatar Airways and was structured and arranged exclusively by Standard Chartered. |
Qatar Airways, Qatar Aviation Lease Company and Standard Chartered, through its aviation finance team, Pembroke, have successfully closed a ‘sale and operating leaseback’ transaction for three B777-300ER and five B787-8 aircraft.
The deal was officially concluded at a ceremony held in Singapore and attended by Qatar Airways Group chief executive Akbar al-Baker and Standard Chartered Group chief executive Peter Sands.
However, the value of the deal was not given.
This is the first sale and leaseback transaction entered into by Qatar Airways and was structured and arranged exclusively by Standard Chartered. This transaction highlights the bank’s commitment to Qatar and its strategy of leveraging its global team and world class innovative financial products to support the international expansion of Qatari corporates and institutions, Sands said.
“Qatar Airways is a long-standing client of Standard Chartered and we are delighted to have structured and arranged this landmark transaction for the airline. It demonstrates Standard Chartered’s capabilities and commitment to partnering with core clients in the region – something we have been actively doing for over 90 years. We are proud to be supporting Qatar Airways as they expand their fleet to meet increasing air traffic demand across one of the world’s fastest growing regions,” Sands said.
At the Farnborough Air Show, the airline placed an order for 100 Boeing 777X aircraft, taking Qatar Airways’ orders to more than 340 aircraft with a value of $70bn.
Qatar Airways was the first Gulf carrier to join a global airline alliance, enabling its passengers to benefit from almost 1,000 airports in more than 150 countries, with 14,250 daily departures.
Qatar Airways has seen rapid growth in 17 years of its operation, to the point where today it is flying a modern fleet of 141 aircraft to 145 key business and leisure destinations across Europe, the Middle East, Africa, Asia Pacific, North America and South America.
