AIB is to acquire 50% of Autolease Fleet Management in a joint venture aimed at providing vehicle leasing solutions tailored to the transition to a green economy.

AIB is making an initial investment of c.€6m, with more over time, to support the growth of the business and the development of  financial products.  Autolease used to trade as Sixt Leasing and now operates as NiftiBusiness and Nifti Personal Leasing.

The deal is subject to approval by the Competition and Consumer Protection Commission.

Nifti chief executive Catherine Guy, who was managing partner of law firm ByrneWallace until 2018, said: “We are delighted to agree such an exciting partnership with AIB, which will provide NiftiBusiness and Nifti Personal Leasing with the capacity to grow and meet the increasing demand for fleet management solutions."

AIB director of retail Jim O’Keeffe added: “AIB’s ambition is that green and transition lending will account for 70% of our new lending by 2030. We are particularly pleased to be partnering with NiftiBusiness and Nifti Personal Leasing which have big ambitions to increase the presence of electric and hybrid vehicles in their fleet in coming years.

In Association with

“This joint venture is happening at a time when the drive towards sustainability and the need to protect our environment is encouraging many businesses and people to re-evaluate their fleet management and private motoring needs.”

Nifti offers personal leasing products to consumers for a fixed monthly payment with no balloon or residual payments at the end of the lease term. 

Photo: Catherine Guy and Jim O'Keeffe. (Pic:  Coalesce)