Singapore’s Tigerair has signed a Memorandum of Understanding (MOU) with Airbus for the purchase of up to 50 A320neo aircraft for future fleet renewal and growth. The deal covers 37 firm orders plus 13 options. The aircraft will be powered by Pratt & Whitney PW1100 engines and will be operated by the airline across its Asia-Pacific route network.

“We are delighted to conclude this agreement, which will allow us to introduce the latest single-aisle aircraft into our fleet,” said Mr Koay Peng Yen, Tigerair’s Group CEO, “This agreement also underscores Tigerair’s commitment to continue building on our leadership position in the budget travel sector at a measured pace.”

“We are pleased that Tigerair has reaffirmed its commitment to the A320 Family with this important new order,” said John Leahy, Airbus Chief Operating Officer, Customers. “This order once again highlights the unbeatable operating economics offered by our single aisle product line for airlines from both the low cost and full service markets.”

Tigerair, established in 2004, comprises three airlines – Tigerair Singapore, Tigerair Mandala (Indonesia) and Tigerair Australia. Collectively, the Group’s network extends to over 50 destinations across 14 countries in the Asia-Pacific region. The Group currently operates an all-Airbus fleet of 48 A320-family aircraft, averaging less than three years of age.

The A320 Family is the world’s best-selling single aisle product line with more than 10,200 orders to date and over 6,000 aircraft delivered. The latest version A320neo will enter service in 2015 and incorporates new engines and “Sharklet” wing tip devices which together deliver up to 15 percent in fuel savings. As at the end of February 2014, firm orders for the NEO already stood at 2,667 from 50 customers around the globe.