Flydubai has mandated the Pembroke Group the financing of two new Boeing 737-800 aircraft scheduled for delivery in June and July.
The eight-year sale and leaseback agreement follows the request for proposal (RFP) issued by Flydubai for its 2012 aircraft funding requirements.
Flydubai's chief executive officer Ghaith Al Ghaith, said: "The enthusiastic response to our RFP, which was once again over-subscribed, is a positive start to our fourth year of operations. This is the first such agreement we have made with Standard Chartered's subsidiary, Pembroke, and underpins the continued confidence lessors have in us as we drive growth by increasing capacity and connectivity."
Pembroke Group's chief commercial officer Kieran Corr commented: "This transaction is a further testament to Standard Chartered's continued commitment to our airline clients in the Middle East."
Flydubai took delivery of one new 737-800 from MCAP in February this year and has four more aircraft of the type scheduled for the fourth quarter.