Singapore's Tiger inks two more financing deals with Standard Chartered

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Singapore's Tiger Airways has signed two financing agreements with Standard Chartered Bank for the pre-delivery payments of six aircraft to Airbus and the purchase of another seven aircraft.

The bank will arrange financing for the six Airbus A320s, which will be delivered by December 2011, says the low-cost carrier.

Standard Chartered will also be the lead arranger for an Export Credit Agency-backed financing for the purchase of seven more A320s, adds Tiger. These will be delivered by January 2011.

"This will bring the number of aircraft owned by Tiger Airways to nine, including two that were delivered in January and February 2010," says the airline.

Its CEO Tony Davis says: "As we continue to grow in Asia and Australasia, we look forward to acquiring more of our own aircraft through ownership financing arrangements."

Tiger had earlier concluded two financing deals in January, covering seven A320s. Both deals were also arranged by Standard Chartered.

The airline, which operates a fleet of 19 A320-family aircraft, plans to increase this to 68 by December 2015.