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Tiger sub-leases 12 jets to IndiGo, makes S$93m provision
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Nisha Ramchandani
Published Thu, Oct 9, 2014 · 09:50 PM
Singapore
BUDGET airline Tiger Airways is sub-leasing 12 aircraft to Indian carrier IndiGo as it seeks to rightsize its fleet amid overcapacity in the market, which will see the carrier making a one-off accounting provision of some S$93 million.
In addition, the group said it is "reviewing various funding options", including a potential rights issue, to strengthen its balance sheet and raise cash for general funding needs.
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