Singapore's Tiger Airways plans to raise up to S$273 million in a public offering this month, according to a term sheet seen by Reuters, the first listing of an Asian airline in almost five years.

Tiger, whose owners include Singapore Airlines and state investor Temasek, is selling around 165 million shares, or about 30 per cent of its enlarged share capital, to raise funds for aircraft purchases.

The money raised will also be used to set up a new operating base for Tiger as well as pay off some existing debt, the term sheet said.

Tiger's IPO comes amid concerns about the health of the global airline industry, which has been battered by falling travel and cargo demand, along with a rally in fuel prices.