• South Korea's 7^th largest business enterprise has launched 'Hanwha Aviation', an engine leasing and trading platform with a long-term vertically integrated strategy for newer generation assets.
• Hanwha will apply extensive experience and expertise in aero engines, finance, and asset management to deliver optimized solutions to customers.
• Hanwha Aviation aims to build and manage a portfolio of over 1,000 assets over the next decade, underwritten by the aero-engine strategy.

SEOUL, South Korea, May 2, 2024 /PRNewswire/ -- Hanwha, the seventh largest Korean conglomerate and a Fortune 500 company, has announced the launch of Hanwha Aviation, an engine leasing platform with a long-term vertically integrated strategy for newer generation assets with operations in Singapore, Ireland, and the U.S.

Backed by Hanwha's extensive experience and expertise in the manufacturing and MRO of aero-engines, Hanwha Aviation will be ideally positioned to provide flexible and innovative solutions for aircraft and engine leasing to the industry on a global scale.

"Hanwha Aviation will provide customers and industry partners with a compelling transaction platform for trading, leasing, and asset management of aero-engines and aircraft", said Jeff Lewis, CEO of Hanwha Aviation based in Singapore. "Leveraging our vertically integrated approach, we will maintain a full range of engine leasing solutions tailored to our customers' requirements designed to reduce the financial impact on their operation."

With the backing of Hanwha, a global top company, this new platform has the financial power to execute both single-asset and large fleet transactions, while minimizing the execution risk to our leasing customers and trading partners.

In the short term, Hanwha Aviation will be focused on acquiring portfolios of narrowbody engines and aircraft, with a target of 1,000+ assets within the next 10 years to become the premiere aero-engine leasing platform for the aviation industry.

Representatives of Hanwha Aviation will join the forthcoming ISTAT Asia 2024 to be held in Hong Kong from May 7-9, to engage representatives of airlines, lessors, and MROs to introduce the business and discuss partnerships and transaction opportunities.

For more information on website : www.hanwha-aviation.com

About Hanwha Group

Founded in 1952, Hanwha has grown quickly by anticipating and responding to changing business environments with a global portfolio that spans energy, ocean, aerospace, defense, finance, and retail & services. Our expertise and synergy in key areas have catapulted us to become the seventh-largest business group in South Korea and a Fortune Global 500 company. Hanwha continues to grow rapidly as we pursue global leadership in all of our businesses. We are building a robust foundation for sustainable development and a brighter future for everyone.

For more information, visit: www.hanwha.com