Scoot signs sale-leaseback agreement with StandChart

The sale-leaseback is for two Airbus A320neo aircraft.

Singaporean low-cost airline carrier Scoot has signed a sale-leaseback agreement with Standard Chartered for two Airbus A320neo aircraft.

The deal was structured, financed and arranged exclusively by Standard Chartered Aviation Finance. The sale-leaseback of both aircraft was completed in April 2022.

The Airbus A32neo is a single-aisled, narrow-body aircraft that boasts greater fuel efficiency. It can greatly reduce CO2 emissions, produce less noise, and increase passenger capacity

Being a single-aisled, narrow-body aircraft, the Airbus A320neo has greater fuel efficiency, helps reduce CO₂ emissions, produces less noise and increases passenger capacity.

ALSO READ: Campbell Wilson steps down as Scoot CEO

A sale-leaseback agreement lets a company sell an asset wherein the purchaser can lease the asset back to the company.

“Our partnership with Standard Chartered is a testament to Scoot’s commitment to ensuring cost and fuel efficiencies to offer customers safe, greener and more sustainable journeys. Fleet renewal is a key constant in our corporate planning to upkeep Scoot’s fleet, which has a current average age of six years, to continue serving our customers better for years to come,” Leslie Thng, CEO of Scoot said.

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