Standard Chartered, SAA seal deal on aircraft purchase

Standard Chartered have signed an agreement with South African Airway, SAA to buy 10 aircrafts- A320-200.

The agreement which was SAA’s regional expansion plans was brokered through the bank’s Aviation Finance team, Pembroke. The aircrafts will be delivered over the next two years with the two deliveries already made last month.

A statement emanating from the bank said that this is the first aviation finance deal in South Africa by Standard Chartered which is a demonstration of the bank’s commitment to South Africa and its strategy of leveraging its global team and world class innovative financial products to support the international expansion of South African corporates and institutions.

In the statement, Daniel Hanna, Co-Head of Wholesale Banking, Southern Africa, said: “We are delighted to be able to support SAA in this important transaction and to leverage our investment banking expertise to finance these aircraft, as well as to participate in this new sale and leaseback agreement.”

[Vanguard]

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