Singapore’s Tiger Airways is set for an initial public offering next month in a bid to help finance the purchase of a fleet of 50 Airbus A320s. It is planning to sell up to 51 per cent of its shares, which could raise as much as $1bn.
Tiger Aviation has reported a strong passenger growth of 50.4% for the three months ending 31 December 2008 compared to the same period in 2007, as well as a 53.4% increase in seat capacity.
Tiger Airways’ first Airbus A319 aircraft has arrived in Singapore, straight from the factory in Hamburg.Rosalynn Tay, managing director of Tiger Airways Singapore said, “I am so excited about growing our fleet. With more planes we are able to have even more low low fares for travellers. The best thing about this plane is that it is 98% the same as our A320s but with less seats and a lower operating cost. This is the perfect aircraft for route development and ensures that the airline is in the right position to exploit new opportunities as they are presented.”
Tiger Airways is teaming up with online hostel booking company Hostelworld.com to offer passengers a wider range of accommodation choices.