28 September 2017, Singapore / China / Hong Kong – Standard Chartered announced today that through Standard Chartered Bank (Hong Kong) Limited, it has established an aviation leasing company – Pembroke Aircraft Leasing (Tianjin) Limited (“Pembroke”) – in the Dongjiang Free Trade Port zone (DFTP) in Tianjin, China. This makes Standard Chartered the first foreign bank to set up an aviation leasing business in the DFTP.
With this set up in the DFTP, Pembroke will be able to offer Chinese airline clients a greater selection of aircraft leasing solutions to enhance their business operations.
Standard Chartered and Pembroke Capital Limited (the Bank’s wholly-owned aircraft leasing company) provide comprehensive aviation financing and leasing services to support the global aircraft leasing business. It currently manages a fleet of over 130 aircraft, serving major airlines in 29 countries around the world.
Speaking at the sidelines of the China Air Finance Development Summit, Garry Burke, Global Head of Structured Finance at Standard Chartered, said: “It is our great pleasure to be the first foreign bank to set up an aviation leasing business in the Dongjiang Free Trade Port zone in Tianjin. Standard Chartered has more than 150 years’ experience banking the people and businesses of China. Today, we also offer our specialist aviation leasing capabilities to help the growing airline industry in China. We already have a total of 10 B737 aircraft delivered or scheduled for delivery through the Dongjiang platform for our clients between July 2017 and March 2018, and continue to look for opportunities to provide tailored leasing solutions for other Chinese airlines.”
This latest development follows the aviation leasing venture in which Standard Chartered joined hands with Sichuan Development Holding Co., Ltd (SDH) to establish SDH Wings International Leasing Limited (SDH Wings).