Standard Chartered closes lease deal with Cebu Air

Standard Chartered Bank has closed a multi-million dollar finance lease transaction for two Airbus 320-200 aircraft with Cebu Air, Inc (PSE:CEB), the Philippines’ leading low-cost carrier. The 10-year financing facilities for the aircraft were arranged and funded exclusively by Standard Chartered. The two aircraft were delivered just one month apart, in December 2013 and January 2014, and will be critical to Cebu Air’s fleet expansion programme, which aims to stimulate growth in the domestic market while pursuing greater market share in the international market. “Cebu Air is an important long-term client of Standard Chartered. This transaction, along with other products