LONDON — Standard Chartered Aviation has ordered 10 Boeing 737-800 aircraft the lessor announced at the Farnborough Airshow today, in an order valued at $960 million at list prices ($430-620 million applying the standard discount range of 35-55%).
The order had previously been listed as unidentified in Boeing’s records. The aircraft will be delivered from 2016 to 2018 as the 737 Next Generation (737NG) line winds down in favor of the re-engined 737 MAX.
Standard Chartered Aviation Finance, the aircraft leasing arm of the London based financial services conglomerate currently manages a portfolio of 110 aircraft including 30 737 Next-Generation (737NG) aircraft, all of which are 737-800s.
Its operations are focused on emerging markets (particularly Africa and the Middle East), but to date it has mostly eschewed orders for new aircraft. Instead it has acquired much of its fleet through a sale and leaseback process, including its Boeing 777-300ERs and 787-8s which were part of a sale and leaseback transaction with Qatar Airways.
“We are excited about adding these new Boeing aircraft to our fleet. Our current portfolio consists of over 110 aircraft on operating lease to airline clients globally,” said Kieran Corr, Head of Aviation Finance at Standard Chartered.
“We are committed to continuing to grow and diversify our client base over the next couple of years (…) with deliveries through 2018, these new Boeing Next-Generation 737-800s will help us meet near-term client demand and expand our client base in our core markets, such as North East Asia.” Corr said.