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Flydubai, Standard Chartered close deal.

Summary: This transaction, which was structured and arranged exclusively by Standard Chartered, is the second Sale and Operating Leaseback deal that Standard Chartered has concluded with flydubai.

Flydubai and Standard Chartered Bank, or Standard Chartered, through its award winning aviation finance team, Pembroke, have recently closed a sale and operating leaseback transaction for two next-generation Boeing 737-800 aircraft.

"Flydubai has continued to look to diversifying its sources of funding. The next-generation Boeing 737-800 is an attractive asset for the market and with flydubai's strong credit the sale and leaseback of our aircraft remains an important component of our financing portfolio. This latest sale and leaseback transaction is in line with our ongoing fleet management strategy. We thank Standard Chartered Bank for their support and look forward to further enhancing our long term relationship," said Mukesh Sodani, chief financial officer of flydubai.

"We are delighted to support flydubai's expansion to meet increasing air traffic demand in the Middle East. This transaction reinforces Standard Chartered's commitment to our clients by responding to their needs with timely and innovative financing solutions. It also cements our position in the region as a long term financial partner. We look forward to continuing to support flydubai's growth," said Kieran Corr, Head, Aviation Finance, Standard Chartered Bank.


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Publication:Khaleej Times (Dubai, United Arab Emirates)
Date:Nov 11, 2015
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