Tiger secures pre-delivery payment financing for A320s

Singapore
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Singapore-based low-cost carrier Tiger Airways has secured pre-delivery payment financing for five Airbus A320s from Standard Chartered Bank.

The aircraft were due to be delivered in 2016, but Tiger brought that forward to 2010 and 2011, says CEO Tony Davis.

"In view of the opportunities for us to grow our business in both Asia and Australia, we have accelerated delivery of these five new aircraft," he adds.

Last week, Tiger said that Standard Chartered would provide financing for the purchase of two A320s. One of those aircraft is due to be delivered this month and the other next month.

Tiger, which has 66 A320s on order, plans to have initial public offering this year.