29-Oct-2010 9:10 AM

Tiger Airways signs Standard Chartered Bank for aircraft financing

Tiger Airways Holdings Limited and Standard Chartered Bank signed (28-Oct-2010) another multi-million-dollar financing deal for the pre-delivery payments (PDP) of 14 new A320 aircraft for delivery by Mar-2013. In addition, Tiger Airways has agreed with Airbus to advance the deliveries of two aircraft originally scheduled for 2015-16 into next year. This additional PDP financing comes shortly after the conclusion of Tiger Airways’ export credit agency-backed financing with Coface of France and Standard Chartered for nine A320s and previous PDP financing arrangements covering 11 aircraft deliveries concluded earlier in 2010. Tiger Airways has a 21-strong fleet. Additional deliveries will expand the fleet to 26 aircraft by Mar-2011. It expects to have a fleet of 68 before Dec-2015. [more]