Santander sells six assets; continues to reduce A&L portfolio

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Banco Santander has sold six assets this year from its former Alliance & Leicester (A&L) aviation business in an on ongoing effort to reduce the loan portfolio.

The six assets include turboprops, helicopters and one widebody aircraft.

The Spanish bank remains active in writing new aviation business, but not through the A&L loan book.

Banco Santander completed its purchase of the A&L business for £1.3 billion in October 2008.