SINGAPORE low-cost carrier Tiger Airways is considering an initial public offering (IPO) of at least US$500 million (S$694 million) some time next year, the Wall Street Journal reported, quoting a person familiar with the situation.

'At this time, they are considering a US$500 million minimum, but it could change. They have the agreement of shareholders. They need to fund their expansion in Australia and the purchase of new planes,' the person said on Thursday, adding that Tiger Airways is considering listing 30 per cent of its share capital.

Tiger Airways, 49 per cent owned by Singapore Airlines, is one of the biggest budget carriers in South-east Asia, with 25 destinations in Asia and Australia.

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