Tigerair has placed a firm order for 37 Airbus A320neo aircraft worth $3.8bn with an option to increase it by up to 13 additional jets for fleet renewal and growth.
Powered by Pratt & Whitney PW1100G-JM engines, the aircraft will be operated by the airline across the carrier’s Asia-Pacific route network.
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The new A320neo aircraft will feature large Sharklet wing-tips, delivering nearly 15% improved fuel efficiency, compared with the current generation A320ceo that amounts to about S$40m ($31.4m) savings annually.
The A320neos will replace Tigerair Singapore’s A320ceos, which will be gradually removed from the airline’s fleet upon the expiry of their respective leases.
Due to the latest deal, the airline’s existing order of nine A320 aircraft, part of a larger agreement in 2007, will now be cancelled. These aircraft were originally scheduled to be delivered in 2014 and 2015.
Cancellation of the existing orders, along with the staggered delivery of the new A320neos, will allow the Singapore airline to optimally manage its capacity, improve cost-efficiency and advance its fleet modernisation plan.
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By GlobalDataTigerair Group CEO Koay Peng Yen said: "We have re-calibrated our strategy and taken the necessary steps to re-position Tigerair for a brighter future.
"It also allows us to continue building on our leadership position in budget travel at a measured pace."
Airbus customers chief operating officer John Leahy said: "This order once again underscores the unbeatable operating economics offered by our single aisle product line for airlines from both the low cost and full service markets."
Image: The A320neos will replace Tigerair Singapore’s A320ceos. Photo: courtesy of Airbus SAS.
