SIA intensifies competition with Asian rivals with $17b aircraft purchase

It's a record deal, says Bloomberg.

According to a report by Bloomberg, Singapore Airlines Ltd. (SIA) Chief Executive officer Goh Choon Phong watched budget airlines in neighboring Indonesia and Malaysia order some 800 aircraft in the 2 1/2 years he has been at the helm.

Bloomberg noted that with the third-highest cash reserves among airlines globally, Goh responded last week with a record $17 billion purchase. Singapore Air, including its affiliates, now has $46 billion of aircraft orders with Airbus SAS and Boeing Co (BA).

Read full report here.

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