-- New aircraft to operate medium- and long-haul routes
-- Order is part of airlines' growth and aircraft replacement plans
-- Delivery of aircraft to start in the 2013-2014 financial year
SINGAPORE -(Dow Jones)- Singapore Airlines Ltd. said Wednesday it is ordering eight more Boeing Co. (BA) 777-300ER aircraft worth US$2.3 billion at list prices, as part of its growth and aircraft replacement plans.
The carrier will receive the new aircraft starting in the 2013-2014 financial year, and will operate them on medium- and long-haul routes, it said in a statement.
The new aircraft, to be powered by General Electric Co.'s GE90 engines, will join Singapore Airlines' existing fleet of 19 Boeing 777-300ERs, it added.
"These aircraft are being ordered for SIA's growth purposes as well as for replacement, in line with our longstanding policy of operating a young and modern fleet," a company spokeswoman said.
The average age of Singapore Airlines' fleet--comprising 106 aircraft currently--is six years and four months, as of July.
Singapore Airlines last month posted a sharper-than-expected 82% decline in first-quarter net profit after soaring crude-oil prices pushed up its fuel bill, and warned of a difficult period ahead.
In May, the carrier said it will start a no-frills low-fare subsidiary next year that will operate flights on medium- and long-haul routes, initially using Boeing 777-200 aircraft from the parent.
Source: http://www.foxbusiness.com
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