Tiger Airways Holdings has secured financing for its next batch of new Airbus A320s delivering through July.
The Group mandated MCAP Europe for five Airbus A320s under a sale and leaseback agreement. According to Tiger, the first aircraft closed last month. The second and third aircraft are to join Tiger in June while the carrier will receive another two aircraft in July under the agreement.
Tiger financed one A320 delivery in April under another sale and leaseback agreement with the Pembroke Group.
The Group reported a Singapore dollar (S$) 104.3 million ($81.7 million) net loss for 2011/12 financial year, down from a net profit of S$39.9 million a year ago. The group says the 2011/12 results were impacted by six-week suspension of Tiger Airways Australia, underutilisation of the Group fleet and high fuel prices.
At 31 March 2012, cash and cash equivalents totalled S$160.7 million, down from S$185.8 million at the end of its 2010/11 financial year.
Total debt reached S$583.9 million for the 12 months to 31 March 2012, an increase of S$43 million from a year before.
Source: Commercial Aviation Online
