The UK’s Standard Chartered Bank has finalised a $960m order for ten next-generation 737-800 aircraft with Boeing.

Valued according to current list prices, the new order will be leased to an undisclosed customer.

Standard Chartered Bank aviation finance head Kieran Corr said: “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.

"We are committed to continuing to grow and diversify our client base over the next couple of years."

“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." 

Standard Chartered's current fleet has an average age of less than five years, and with the new order, the company aims to help the aviation sector grow in Asia, Africa and the Middle East.

Through its aviation finance business, Standard Chartered offers various solutions such as sale and leasebacks, aircraft finance leases, Islamic finance leases, capital market solutions and others.

Meanwhile, Boeing had announced its plan to source carbon fibre pre-impregnated (prepreg) composite material for the Boeing 777X from a new joint venture (JV) formed by Mubadala Development Company and Solvay.

The newly formed Mubadala-Solvay JV will produce primary structure composite material that will be used to manufacture Boeing 777X empennage and floor beams.

Image: Standard Chartered Bank placed an order for ten next-generation Boeing 737-800 jets. Photo: courtesy of Boeing.