A landmark financing deal with Oman Air
Oman Air and Standard Chartered, through its award winning Aviation Finance team, Pembroke, have signed a Sale and Operating Leaseback transaction for three B737-800 aircrafts. The first two aircrafts were delivered in November and December 2014, with the third delivery planned for February 2015.
This transaction is one of the first sale and leaseback transactions entered into by Oman Air, and was structured and arranged exclusively by Standard Chartered. This transaction highlights the Bank’s responsiveness to a client’s needs by leveraging its global team and world-class innovative financial products to provide the most optimal financing solution. It also demonstrates Standard Chartered’s commitment to supporting the expansion of Omani corporates and institutions.
“Oman Air is keen to pursue different options to finance new aircraft joining our fast-growing fleet, and one of those options is sale and leaseback. We are pleased to have mandated Standard Chartered for the sale and leaseback of three B737-800s from 2014-15. These aircrafts will support the ambitious growth strategy that we have just launched. This will see us offer our customers an increased range of destinations and frequencies, more convenient connections at Muscat, and world-class levels of onboard comfort and service,” said Paul Gregorowitsch, Chief Executive Officer, Oman Air.
“We have long-standing relationships with our clients and meeting their needs is our top priority. We are pleased to support Oman Air, as it expands its fleet across one of the world’s fastest growing regions. This transaction showcases the capabilities of Standard Chartered to provide tailored solutions to Middle Eastern carriers as they develop their fleets to meet the growing air traffic demand in the region. This deal should contribute to intra-Middle East trade, which was also an attractive feature of the underlying transaction,” said Kieran Corr, Managing Director and Head, Aviation Finance, Standard Chartered Bank.
For further information please contact:
Natalie Long
External Communications Manager
Standard Chartered Bank
+65 6596 5388
natalie.long@sc.com