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Standard Chartered Bank has successfully
completed a structured pre-delivery payment financing arrangement
for Tiger Airways, relating to the advanced delivery of five
Airbus 320-200 aircraft into 2010/11. These five aircraft are part
of the total 66 aircraft fleet Tiger Airways has ordered with
Airbus and were originally scheduled to be delivered in 2016.
Last week, Tiger Airways announced the first
European ECA-backed aircraft financing arrangement with
Standard Chartered Bank to purchase two A320-200 aircraft.
“I am delighted to be working with Standard
Chartered Bank for this important aircraft pre-delivery payment
loan facility,” said Tiger Airways President and Chief Executive
Officer, Tony Davis. “In view of the opportunities for us to grow
our business in both Asia and Australia, we have accelerated
delivery of these five new aircraft from their original delivery
dates in 2016 to now join our fleet later this year and in early
2011.”
Philippe Touati, Managing Director, Head of
Origination and Client Coverage, Standard Chartered Bank
(Singapore), added, “The transaction helps to cement the strong
relationship that Standard Chartered has developed with Tiger
Airways since 2005, a year after the airline commenced operations.
It highlights our ability and commitment to support key
relationships with innovative solutions notwithstanding market
conditions. With our strong franchise in Asia and extensive
product capabilities, Standard Chartered is delighted to have this
opportunity to partner Tiger Airways in its growth plans.”
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