Standard Chartered has secured debt financing for a new Airbus A320neo aircraft with Vistara, a joint venture between the Tata Group and Singapore Airlines. The agreement was structured, financed and arranged by Standard Chartered Aviation Finance. Airbus delivered the aircraft to Vistara in April 2022.
Being a single-aisle, narrow-body aircraft, the Airbus A320neo has greater fuel efficiency, helps reduce CO₂ emissions, produces less noise and increases passenger capacity.
Although the bank provides Vistara’s expertise and corporate banking services, this is the first aviation finance transaction with the airline.
Kieran Corr, Global Head of Aviation Finance and CEO Ireland, Standard Chartered, added: “We are proud to establish a relationship with Vistara and support their expansion plans. This new Airbus A320neo financing operation shows our commitment to helping our customers operate a fleet of more fuel-efficient aircraft.
Niyant Maru, CFO of Vistara, said, “Vistara is focused on growing its footprint in India and globally; and a young and sustainable fleet is key to our strategy. We are delighted to partner with Standard Chartered as they enable us to expand our fleet.
July 13, 2022