Tiger Airways has entered into an agreement with Standard Chartered bank to finance pre-delivery payments (PDP) on 14 new aircraft it has on order.
“Standard Chartered Bank has been mandated to arrange and sole finance a Singapore Dollar-denominated structured PDP financing arrangement for Tiger Airways, relating to a total of 14 Airbus 320s scheduled for delivery by March 2013,” the bank said in a statement.
Standard Chartered has provided finance for PDPs on 11 other A320s ordered by Tiger, while the airline has also received export credit agency backed finance for nine other aircraft.
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