Avolon has agreed to sell a portfolio of 33 commercial aircraft to Lesha Bank, expanding the bank’s aviation portfolio and increasing the fleet managed by its aviation services business to more than 75 aircraft.
The portfolio comprises aircraft leased to 25 airlines globally, giving Lesha Bank exposure to a diversified group of airline customers and aircraft assets. Following completion of the transaction, Lesha Aviation Services will manage the portfolio as part of the bank’s broader aviation leasing activities.
For the aviation aftermarket, portfolio transfers can also shift responsibility for asset management activities associated with aircraft operating leases, including maintenance planning, records management, technical oversight and coordination with MRO providers. The announcement did not disclose the aircraft types, individual maintenance status, or the value of the transaction.
Andy Cronin, Chief Executive Officer of Avolon, said, “We are pleased to partner with Lesha Bank on this significant transaction. Aircraft trading is a core part of Avolon’s strategy, enabling us to actively manage our portfolio, realise value and recycle capital. This agreement reflects the continued strength of investor demand for aviation assets and the scale and capabilities of Avolon’s global platform.”
The transaction continues the relationship between Avolon and Lesha Bank as the latter builds its aviation leasing and asset-management activities.
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Mr Mohammed Ismail Al Emadi, Group Chief Executive Officer of Lesha Bank, said, “This acquisition reflects the disciplined approach we have taken to building scale in aviation leasing. Adding a portfolio of this calibre, with established lessees and a strong technology mix, reinforces the resilience and long-term earnings profile we are targeting across our Shari’a-compliant aviation portfolio. Managed through Lesha Aviation Services, we expect this portfolio to deliver stable, diversified returns for years to come.”
The aircraft will remain operated by their existing airline lessees, while ownership and portfolio management will transition to Lesha Bank following completion. Financial terms and the expected closing date were not disclosed.
