Standard Chartered has agreed to sell its aviation finance business to a subsidiary of Saudi Arabia's sovereign wealth fund for $3.6 billion, and has signed a separate agreement to sell a loan portfolio to enhance returns. According to a statement, AviLease, an aircraft leasing company owned by the Public Investment Fund (PIF) of Saudi Arabia, will acquire 100 narrow-body aircraft and become the service provider for another 22 aircraft. The combined platform will own and manage 167 aircraft. Additionally, PK Airfinance, supported by Apollo Global Management Inc., has agreed to purchase a significant portion of a secured aviation loan portfolio worth $920 million from Standard Chartered. An affiliate of Apollo will buy the remaining aviation loans.