Tiger Airways Mandates Pembroke with Financing Deal for Four A320 Aircraft
Tiger Airways Holdings and Pembroke Group, the aircraft leasing, financing and management subsidiary of Standard Chartered Bank, have signed a new multi-million dollar deal for the purchase and lease of four A320 aircraft.
Pembroke Group has been mandated for the purchase and operating leaseback transactions by Tiger Airways following a competitive tender process. The four Airbus 320s are to be delivered by February 2012, following which the aircraft will be leased to Tiger Airways for a 12-year term, by subsidiaries or associates of Pembroke Group. The financing facilities for the aircraft will be arranged, underwritten and funded exclusively by Standard Chartered.
Through a previously concluded arrangement, Standard Chartered is also the financier of the pre-delivery payments (PDP) for these aircraft.
Tony Davis, president and chief executive officer, Tiger Airways Holdings, said: “Tiger Airways is pleased to once again announce a significant transaction with Standard Chartered Bank in respect of aircraft financing. We are delighted to be expanding our relationship with Standard Chartered and Pembroke Group, as we continue to expand our network across the Asia-Pacific region.”