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LoginLesha Bank Acquires a Portfolio of 33 Aircraft from Avolon
Doha - Dublin, September 28 (QNA) - Lesha Bank LLC (Public) and Avolon, a leading global aviation finance company, today announced an agreement for the sale and purchase of a portfolio of 33 aircraft. The transaction comprises a diversified portfolio of commercial aircraft on lease to 25 airlines globally.
The transaction represents a significant milestone in the development of the relationship between Avolon and Lesha Bank. It also demonstrates the depth of institutional capital seeking exposure to leased aircraft and the continued strength of demand for high-quality aviation assets. Following completion, the portfolio will be managed by Lesha Aviation Services, bringing the Bank's total managed fleet to more than 75 aircraft.
Mohammed Ismail Al Emadi, Group Chief Executive Officer of Lesha Bank, said: "This acquisition reflects the disciplined approach we have taken to building scale in aviation leasing. Adding a portfolio of this calibre, with established lessees and a strong technology mix, reinforces the resilience and long-term earnings profile we are targeting across our Shari'a-compliant aviation portfolio. Managed through Lesha Aviation Services we expect this portfolio to deliver stable, diversified returns for years to come."
Andy Cronin, Chief Executive Officer of Avolon, commented: "We are pleased to partner with Lesha Bank on this significant transaction. Aircraft trading is a core part of Avolon's strategy, enabling us to actively manage our portfolio, realise value and recycle capital. This agreement reflects the continued strength of investor demand for aviation assets and the scale and capabilities of Avolon's global platform." (QNA)
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