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Tiger Airways Concludes 2nd Aircraft Financing Deal with Standard Chartered

Travel News Asia Latest Travel News Podcasts Videos Tuesday, 12 January 2010

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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