The long-term fleet renewal and expansion comes
as Tiger, which is about 40 percent-owned by Singapore Airlines
Ltd <SIAL.SI>, takes steps to try to prevent a third straight
year of losses. In January it sold its Tigerair Philippines
business to Cebu Pacific, the archipelago's biggest airline,
cutting its losses in a market where a sharp increase in
available seats pushed down ticket prices.
"We have re-calibrated our strategy and taken the necessary
steps to re-position Tigerair," Tiger chief executive Koay Peng
Yen said in the company's statement. "This deal effectively dissipates some
concerns over a potential capacity overhang in the next couple of years." Tiger said the negotiated price for the new order was
"significantly lower" than the list price. The jets will be
powered by engines from Pratt & Whitney.
(Reporting by Anshuman Daga; editing by Kenneth Maxwell)
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