StanChart Weighs Sale Of $4B Aircraft Leasing Division As Macro Headwinds Weigh

Standard Chartered PLC SCBFY eyes strategic options for its aviation unit, including a sale.
The aviation finance business represents around 2% of the total Group income and 1% of Group RWA.
Standard Chartered reportedly owned a fleet worth $3.7 billion, Reuters reports.
Also Read: American Airlines And JetBlue Airways Tap Their Alliance Amid Antitrust Regulatory Opposition
On January 5, United Arab Emirate-based First Abu Dhabi Bank (FAB) shared and ultimately abandoned a takeover bid.
Commenting on the announcement, Simon Cooper, CEO of Corporate, Commercial & Institutional Banking and Europe & Americas at Standard Chartered, said, "We believe that a new owner can drive the next phase of growth whilst we continue to focus on our commitment to improve shareholder returns and delivering on our 2024 targets."
The complexities of taking over the sprawling bank could hinder any deal, the report cited analysts and investors at the time of the FAB statement.
The global aircraft leasing business faced challenges from inflation and rising borrowing costs despite the rebound in aviation demand.
Related: Lufthansa Explores Partial Sale Of Aircraft Business As It Battles Strikes, Workforce Shortage
Price Action: SCBFY shares closed at $16.76 on Tuesday.