Tiger Airways Holdings today announced that its first owned aircraft has arrived in Singapore following delivery from Airbus in Toulouse, France.

This is the first of two aircraft purchased through a financing arrangement with Standard Chartered bank.

Tiger Airways says owning aircraft, instead of leasing them, enables it to further reduce its operating costs and pass the savings to customers in the form of the lowest possible air fares.

Tony Davis, President and Chief Executive Officer of Tiger Airways, says, “I am delighted to welcome our 18th aircraft to the expanding Tiger Airways fleet. As our first owned aircraft, it boosts our leadership in cost reduction innovations as well as benefiting from the first European Export Credit financing arrangement concluded in Singapore Dollars. The increased fleet is now ready to serve our expanded route network in both Singapore and Australia, as we commence services between Singapore and Hong Kong in February and add services to Brisbane from both Melbourne and Adelaide from March. We look forward to receiving our second owned aircraft next month.”