Stan­dard Char­tered, EVA ink air­craft lease­back deal

The China Post - - LOCAL -

Stan­dard Char­tered Bank said Tues­day it has signed a multi-mil­lion Sale and Op­er­at­ing Lease­back con­tract with EVA Air, Tai­wan’s sec­ond-largest car­rier, for two Air­bus A330-300 air­craft that will be de­liv­ered in 2017.

The con­tract, which was signed by Stan­dard Char­tered’s Avi­a­tion Fi­nance team, Pem­broke, is the Bri­tish bank­ing group’s first sale and lease­back deal with a Tai­wan-based client.

“It high­lights the bank’s com­mit­ment to Tai­wan and EVA as well as its strat­egy of lever­ag­ing its global team and in­no­va­tive fi­nan­cial prod­ucts to sup­port the in­ter­na­tional ex­pan­sion of Tai­wanese cor­po­rate and in­sti­tu­tions,” Stan­dard Char­tered said in a state­ment.

Un­der the sale- lease­back ar­range­ment, EVA sells the air­craft to Stan­dard Char­tered’s Pem­broke team, which then im­me­di­ately leases the air­craft back to EVA to give the Tai­wanese car­rier greater flex­i­bil­ity to con­trol the tax con­se­quences of its air­craft oper­a­tions.

“As we con­tinue to ex­pand our fleet, we will work with trusted part­ners to­ward achiev­ing our goals. We are happy to have Stan­dard Char­tered Bank on board in sup­port of our vi­sion for con­tin­ued busi­ness and fleet growth,” said Glenn Chai, ex­ec­u­tive vice pres­i­dent of EVA.

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