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Emerging markets-focused bank Standard Chartered is in talks to create an aviation financing joint venture in China, reported FT. A person with knowledge of the plans told FT that Standard Chartered will partner either with a state or provincial entity in order to get a foothold in the Chinese aircraft lending market. The source said Standard Chartered's role in the venture would be to "asset manage the portfolio", rather than providing financing. Standard Chartered's Dublin-based aviation finance unit is a major player in the global industry but foreign banks have struggled to break into the Chinese market, in part as domestic banks in the country have plenty of money to lend to local aviation firms. |
