Singapore's Tiger Airways orders Airbus jets valued at $4.8b
Published on Mar 24, 2014 10:08 AM
SINGAPORE (Reuters) - Singapore's Tiger Airways Holdings has placed an order for 37 Airbus A320neo aircraft valued at US$3.8 billion (S$4.8 billion) at list prices, taking delivery of the planes from 2018 to 2025, the carrier said in a statement on Monday.
Tiger said an existing order for nine Airbus A320 aircraft, part of a larger order agreed in 2007, will now be cancelled.
These aircraft were originally scheduled for delivery in 2014 and 2015.
The long-term fleet renewal and expansion comes as Tiger, which is about 40 per cent-owned by Singapore Airlines, 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.
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