Standard Chartered has closed the debt financing of one new Airbus A320neo aircraft with Vistara, a joint venture between the Tata group and Singapore Airlines. The deal 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 corporate banking expertise and services, this is the first aviation finance transaction completed with the airline.
Kieran Corr, Global Head of Aviation Finance and CEO of Ireland, Standard Chartered, added: “We are proud to build a relationship with Vistara and support its expansion plans. This new Airbus A320neo financing transaction shows our commitment to help our clients operate a more fuel-efficient aircraft fleet.”
Niyant Maru, Chief Financial Officer, Vistara, said: “Vistara is focused on growing its footprint in India and across the globe; and a young, sustainable fleet is key to our strategy. We are delighted to associate with Standard Chartered as they enable us to expand our fleet.”