Budget carrier Tigerair Taiwan is to acquire at least 15 Airbus A321neo twinjets for its route-development plan.
Its board has approved the lease of 11 aircraft, to arrive by 2031, and purchase of four more by 2035.
Tigerair Taiwan has not identified the proposed lessor, stating that a potential transaction is still under negotiation.
It values the lease agreement at nearly NT$40 billion ($1.28 billion), comprising around NT$21 billion for the lease and NT$18 billion for the purchase.
Tigerair Taiwan’s fleet currently comprises 17 aircraft, a mix of eight A320neos and nine older A320s.
No engine selection has been disclosed but its A320neos are fitted with Pratt & Whitney PW1100G powerplants.
The carrier says it has “steadily developing” its business model since its launch in 2014.
It states that the board agreed the fleet expansion “in order to plan future routes and improve route operation efficiency”.
“This fleet expansion plan, in addition to increasing operational scale, will maintain a young fleet in the medium to long term,” it adds.
Using the A321neo will increase individual aircraft capacity to 233 seats from the 180 in the A320neo.
Tigerair Taiwan claims average annual load factors of more than 85%, increasing to over 90% on certain Japanese routes.
It states that the average budget-carrier fleet size in Asia is around 35 aircraft and competition is “extremely fierce”. The airline believes its competitiveness will be strengthened by the A321neo, which offers commonality with its current fleet and the ability to broaden its southeast Asian network.
