ROYAL Bank of Scotland is understood to be considering selling its aircraft leasing business as part of an overhaul of its operations.
The group, in which the Government now holds a 68% stake, is believed to be planning to launch a search for potential bidders for RBS Aviation Capital following its annual results at the end of this month.
The business, which is one of the largest in the world and has offices in London, Hong Kong, Tokyo and Dubai, is thought by analysts to be worth several billion dollars.
But it is questionable whether the group will get any serious bids for it in the current economic environment which has also hit airlines hard.
RSB’s chief executive Stephen Hester is understood to have brought forward a review of the bank and its operations from March to February 26 when it reports results for 2008.
The group announced last week that it was abandoning plans to sell its insurance arm, which includes the Direct Line, Churchill and Privilege brands.
It is expected to announce losses of up to £28bn when it reports its annual results.