Not the way I interpret it! They've cancelled 9 aeroplanes due this year for 50 possibly due in 4 years! No expansion until 2018 at least then.
"We have re-calibrated our strategy and taken the necessary steps to re-position Tigerair for a brighter future,” says Tigerair chief executive Koay Peng Yen. “This deal effectively dissipates some concerns over a potential capacity overhang in the next couple of years. It also allows us to continue building on our leadership position in budget travel at a measured pace.”
In other words, "We're in the poo at the moment but we hope things will get better." Words like 'recalibrate', 'dissipates some concerns' and 'measured pace' mean that not all is rosy in the Singapore LCC world when viewed in parallel with the Jetstar issues. You've got to read between the lines in this management BS.