Singapore Airlines (SQ, Singapore Changi) has acquired 400million ordinary shares in the capital of its longhaul LCC Scoot (TR, Singapore Changi) at a price of SGD400million (USD318.5million). In its Singapore Stock Market disclosure, Singapore Airlines said the acquisition, funded via internal sources, will boost Scoot's capital structure as it proceeds with the acquisition of ten B787-9s and ten B787-8s.

Scoot's first Dreamliner, a B787-9, is due in November this year and will be deployed on flights to Qingdao Jiaodong initially. The new aircraft will also herald the beginning of Scoot's fleet renewal programme which should see all existing B777-200(ER)s phased out by the middle of next year.