Tigerair Sells Off Two A320s

Singapore budget carrier Tigerair has confirmed it has entered into a sale and purchase agreement for two of its A320 aircraft to Irish firm Stellar Aircraft Holding 1.

Singapore budget carrier Tigerair has confirmed it has entered into a sale and purchase agreement for two of its A320 aircraft to Irish firm Stellar Aircraft Holding 1.

According to a Tigerair statement released yesterday (March 30), the two aircraft have been marked for sale and their carrying value has been written down to $71m which will result in the airline making an $8m loss upon completion of the sale.

Tigerair said the sale will allow it to reach an optimal fleet size in line with its turnaround strategy.

The airline also confirmed proceeds from the sale, expected to be completed in Q2 2016, will be “utilised to fund the debt related to the financing of these aircraft.”

TAGS: Asia Pacific
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