Standard Chartered Bank Closes ECA Financing of Two Airbus A320-214 Aircraft for Air Arabia

20 July 2012, Singapore – Standard Chartered Bank has closed a new multi-million dollar deal to finance the acquisition from Airbus of two new Air Arabia A320-214 series aircraft.

Standard Chartered Bank was mandated to finance the purchase of the aircraft by Air Arabia following a competitive tender process. The two Airbus 320s were delivered in May and July 2012. The financing facilities for the aircraft were arranged, underwritten and funded exclusively by Standard Chartered Bank.

The latest delivery is part of a significant programme of new deliveries from Airbus under a framework agreement entered into in 2007.

Heinz Noeding, Global Head of Structured Export Finance, Standard Chartered Bank, said, “Standard Chartered is delighted to have been mandated by Air Arabia for this important transaction, which demonstrates our commitment to partnering with key clients through the economic cycle. The latest ECA financing of the two aircraft was completed in an abbreviated timescale. The success of Air Arabia to date and its impressive future plans are compelling and we are proud to play a role in supporting this continued growth. We look forward to an even closer partnership with Air Arabia in the future.”