Friday, October 31, 2008

Tiger Airways news

Reuters - Saturday, November 1SINGAPORE, Oct 31 - Tiger Airways, a budget carrier partly owned by Singapore Airlines , said on Friday it is sticking to its growth plans despite financial market turmoil, with seven additional planes expected within the next two years.

CEO Tony Davis said that despite the global economic slowdown he still saw good passenger demand, but said airfares would come under pressure.

"I still want to travel, I still want to have my holiday, I still want to see my family, but I'm looking for a cheaper fare," said Davis at an aviation conference in Singapore.

The low-cost carrier expects a total of 60 additional planes by 2016, five times the amount it operates currently.

Weakening consumer sentiment has led regional airlines to cut back routes, layoff staff and post losses. Singapore Air holds a 49 percent stake in Tiger.

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