Royal Bank of Scotland launches sale of aviation leasing arm

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State-rescued Royal Bank of Scotland said on Friday that it will seek to sell its aircraft leasing division.

"The sale process for RBS Aviation Capital is underway following significant expressions of interest from potential bidders in the business in recent months," RBS told AFP.

"RBS Aviation Capital's management team has delivered strong business and financial performance over the past decade and it remains among the top four commercial aircraft lessors by fleet value with one of the youngest fleets of narrow bodied aircraft globally.

"We will not be commenting further during the sales process," it added.

The sale could fetch about $8 billion (5.6 billion euros) according to analysts cited by Dow Jones Newswires.

RBS is 83 percent owned by the British government after receiving the world's biggest banking bailout at the height of the global financial crisis.

© 2011 AFP

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