Qatar-based Lesha Bank has acquired a portfolio of 33 aircraft from Dublin-headquartered leasing specialist Avolon, taking its managed fleet to more than 75 aircraft.
The deal, announced Sept. 28, was completed through an investment structure on behalf of Lesha Aviation Fund under an agreement for the sale and purchase of the portfolio. Neither company has disclosed the aircraft types, the airlines leasing them or the financial value of the transaction.
The purchase marks another step in the developing relationship between the two firms and gives Lesha’s aviation business greater scale and exposure to a diversified group of airline operators. It forms part of the bank’s strategy of building its leasing activities around a portfolio of aircraft and established lessees.
Mohammed Ismail Al Emadi, group CEO of Lesha Bank, said the acquisition reflected “the disciplined approach we have taken to building scale in aviation leasing ... We expect this portfolio to deliver stable, diversified returns for years to come.”
Avolon CEO Andy Cronin described it as a “significant transaction.” He said aircraft trading is a core part of the company’s strategy, allowing it to manage its portfolio, realize value and recycle capital. “This agreement reflects the continued strength of investor demand for aviation assets,” Cronin said.
Lesha Bank added that the acquisition aligns with its “broader strategy of scaling its Sharia-compliant aviation platform through diversified, income-generating assets, while deepening its footprint in key global markets.”
The aircraft will be managed through Lesha Aviation Services.
Avolon works with 138 airlines in 60 countries and had an owned, managed and committed fleet of 1,117 aircraft as of June 30.
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