LONDON: A judge ruled Barclays will have to pay its own £33 million ($46.09 million) legal bill despite winning a case against British businesswoman Amanda Staveley’s PCP Capital Group over how the bank negotiated a financial lifeline during the credit crisis in 2008.
Judge David Waksman said on Thursday he made “no order as to costs,” meaning both sides will pay their own legal costs. PCP had been potentially liable for both sides’ expenses under England’s “loser pays” laws.
Waksman in February had found Barclays guilty of “serious deceit” over the deal which offered Barclays a lifeline during the crisis, but denied Staveley damages and dismissed her claim.
Staveley incurred costs of nearly £20 million in fighting the case, court documents showed.
The civil case revolved around how Barclays secured billions of pounds from Qatar and Abu Dhabi-backed investors 13 years ago, allowing it to secure its independence — and the jobs of its bosses — by avoiding a state bailout.
PCP, which led a £3.25 billion, Abu Dhabi-backed investment into the bank, alleged it was induced to fund Barclays on much worse terms than Qatar — despite assurances it would get the same deal.
While Waksman said Barclays had deceived Staveley, he ultimately ruled in February that PCP had not proven its case on causation and loss, meaning the overall case failed.
“We welcome the Judge’s decision, which justly ensures that PCP is not liable to pay Barclays any of its costs of the litigation,” Khaled Khatoun, a lawyer representing Staveley, said on Thursday.
Barclays to pay own $46 million legal bill in case over 2008 bailout from Qatar and Abu Dhabi
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Barclays to pay own $46 million legal bill in case over 2008 bailout from Qatar and Abu Dhabi
PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025
RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.
According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.
Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries.
The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.
AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.
AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.
Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”
He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”
Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.
AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance.
Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.
