Saudi Arabia Invests 3.6 Billion in Aircraft Leasing

Saudi Public Investment Fund announced it is set to acquire the aircraft leasing division of Standard Chartered with a $3.6 billion deal.

The deal includes 167 aircraft leased to 46 airlines around the world as Saudi Arabia is working to diversify its economy. Included in those plans are to invest in becoming a major player in global aviation. Additionally, it would like to improve Riyadh Air as far as its position goes with Etihad, Emirates, and Qatar Airways.