Standard Chartered, EVA ink aircraft leaseback deal
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.