Standard Chartered and SilkAir complete delivery of five B737-800 aircraft

13 October 2014, Singapore – SilkAir (Singapore) Private Limited (“SilkAir”) and Standard Chartered Bank (“Standard Chartered” or the “Bank”) completed the delivery in September 2014 of five Boeing 737-800 Next Generation (NG) aircraft under a multimillion dollar sale and leaseback (“SLB”) transaction.

This concludes the second sale and leaseback arrangement between Standard Chartered and SilkAir, following the successful closing of a transaction for one Airbus 319-100 and one Airbus 320-200 aircraft in December 2011.

All five aircraft under the second SLB transaction are leased to SilkAir by Pembroke Aircraft Leasing 1 Limited and Pembroke Aircraft Leasing 2 Limited, subsidiaries of Standard Chartered. The financing facilities for the aircraft have been arranged, underwritten and funded exclusively by the Bank.

Commenting on the transaction, Kieran Corr, Head of Aviation Finance for Standard Chartered, said, “We are honoured to be a partner to SilkAir in its expansion and fleet renewal plans. This transaction, when combined with earlier sale and leaseback arrangements completed with, and the multi-product financing platform extended to SilkAir and Singapore Airlines group, demonstrates our commitment to supporting key clients in innovative ways, through the economic cycles. It is also a strong testament of our capability and brand promise to be Here for good.”