Tiger secures funds for new aircraft<\/p>\n
SINGAPORE: Singapore Airlines Ltd.'s low-cost carrier
\naffiliate, Tiger Airways, said on Thursday it had secured full
\nfunding for four new passenger planes it has ordered.<\/p>\n
The aviation capital arm of the Royal Bank of Scotland will
\nfund Tiger Airways' purchase of four Airbus A320 planes on a sale
\nand lease back basis, which involves the airline selling the four
\naircraft to the bank and leasing them back on long-term operating
\ncontracts.<\/p>\n
The airline did not provide further details about the funding
\nstructure.<\/p>\n
The four aircraft, which will be delivered in 2006 and 2007,
\nare part of a recently announced order by Tiger Airways for a
\ntotal of eight new A320 aircraft from Airbus, which have a
\ncombined list price of over US$500 million.<\/p>\n
Tiger Airways said it intended to triple its fleet from the
\ncurrent four aircraft by the end of 2007 to enable the airline to
\nfly four million to five million passengers a year from its
\ncurrent half-a-million passengers. -- AP<\/p>",
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