FARNBOROUGH, United Kingdom, July 11, 2016 /PRNewswire/ -- Boeing (NYSE: BA) and Standard Chartered Bank today announced an order for 10 Next-Generation 737-800s. The order, valued at $960 million at current list prices, was attributed to an unidentified customer on the Boeing Orders & Deliveries website.
Speaking at the 2016 Farnborough International Airshow, Kieran Corr, Head of Aviation Finance at Standard Chartered, said: "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. We are committed to continuing to grow and diversify our client base over the next couple of years.
We are investing to leverage our global and leasing capabilities to demonstrate our commitment to key clients by providing aircraft on operating lease to meet increasing air traffic demand across some of the world's fastest growing regions. 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."
With an average age of less than five years, Standard Chartered's fleet comprises some of the most modern and fuel efficient aircraft in the market. "Our key markets are Asia, Africa and the Middle East, with a focus on emerging markets," added Corr. "We want to help the aviation sector grow in those markets to drive regional trade and investment and we can only do that with an expanded diversified fleet."
"We're proud that Standard Chartered has chosen the Next-Generation 737 to grow its Aviation Finance business," said Boeing Commercial Airplanes President and CEO Ray Conner. "They've had great success in the past with 717s and 737 Classics, and we're pleased to welcome them back to Boeing."
The Boeing 737-800 is one of the best-selling versions of the highly successful Next-Generation 737 family, the most technologically advanced airplanes in the single-aisle market. The Next-Generation 737's market success has been confirmed by investors who consistently rank it as the most preferred single-aisle airplane due to its wide market base, superior performance efficiency and lowest operating costs in its class.
Notes to Editors on Standard Chartered
We are a leading international banking group, with around 84,000 employees and a 150-year history in some of the world's most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East.
Our Aviation Finance business is a leading provider of cost-efficient, lease-based and asset-based financing solutions with specialist teams in Dublin, London, Hong Kong and Singapore. Solutions include: Sale and Leasebacks; Aircraft finance leases; Islamic finance leases; Capital market solutions; Fuel and interest rate hedging products; and export credit advisory.
For more information please visit www.sc.com. Explore our insights and comment on our blog, BeyondBorders. Follow Standard Chartered on Twitter, LinkedIn and Facebook.
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