Tiger Airways has partnered with Standard Chartered Bank to arrange financing for the advanced delivery of five Airbus 320-200 aircraft.

The aircraft are part of the total 66 aircraft fleet Tiger Airways has ordered with Airbus and were originally scheduled to be delivered in 2016.

The structured pre-delivery payment (PDP) financing arrangement follows last week’s news that the airline closed its first European ECA-backed aircraft financing arrangement with Standard Chartered Bank to purchase two A320-200 aircraft.

Commenting on the PDP financing, Tiger Airways president and chief executive officer, Tony Davis says: “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 from their original delivery dates in 2016 to now join our fleet later this year and in early 2011.”

“The transaction helps to cement the strong relationship that Standard Chartered has developed with Tiger Airways since 2005, a year after the airline commenced operations. It highlights our ability and commitment to support key relationships with innovative solutions notwithstanding market conditions,” comments Philippe Touati, managing director, head of origination and client coverage (Singapore).