Tigerair set to buy 37 fuel-efficient A320neo planes
Print Edition
SINGAPORE budget carrier Tigerair said yesterday that it will buy 37 Airbus A320neo planes valued at US$3.8 billion, enabling the airline to cut fuel costs and fly to new, more distant destinations.
Tigerair, which is 40 percent owned by Singapore Airlines, said in a statement that it also has the option to buy up to 13 additional aircraft and to convert the A320neo planes to the bigger A321neo model.
Delivery of the fuel-efficient planes will start from 2018 to 2025, the airline said.
As part of the deal, Tigerair’s existing order for nine A320s, which were part of a bigger 2007 order, will be canceled. The planes were to have been delivered this year and in 2015.
The statement said the planes will be powered by Pratt & Whitney engines.
The carrier said the A320neo, which will replace the A320ceo, has a longer flight range “which will enable Tigerair to fly to new and promising destinations.”
It also said the combination of the Pratt & Whitney engines and the large “sharklet” wing-tips would deliver 15 percent greater fuel efficiency compared with the current generation of the A320ceo.
“This translates into an estimated S$40 million in savings annually, based on the current fleet’s fuel expenditure,” Tigerair said.
The new orders come after the airline reported a net loss of S$118.5 million (US$93 million) for the three months ended in December amid tough competition in Asia’s budget carrier sector.
“We have re-calibrated our strategy and taken the necessary steps to reposition Tigerair for a brighter future,” said Tigerair Group CEO Koay Peng Yen.
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