Singapore's Tiger Airways secures 100 mln usd loan facility


Singapore (XFNews-ASIA) - Budget airline, Tiger Airways said it has secured a 100 mln usd loan facility to finance the pre-delivery deposits for eight new Airbus A320 aircraft.

The facility is being arranged and underwritten by BNP Paribas and will be drawn down over the next three to four years, it said.

The airline placed an order for the aircraft, worth more than 500 mln usd, last October. They are scheduled to be delivered from 2008 to 2010.

This purchase will help expand its fleet to at least 20 Airbus A320 aircraft by 2010, it said.

Tiger Airways is jointly owned by Singapore Airlines, Temasek Holdings, Tony Ryan, the founder of European low-cost airline Ryanair, and US private investor Indigo Partners.

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