Gulf Air Completes Aircraft Leaseback with Standard Chartered Financing
Standard Chartered Bank has successfully completed the purchase and leaseback of two Airbus 320-200 aircraft for Gulf Air, Bahrain’s national carrier. 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.
Gulf Air’s chief executive officer (CEO) Samer Majali said: “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.”