Singapore Airlines Ltd will unveil the name of its new low-cost carrier and some of the destinations it will fly to on November 1, the company said on Tuesday.

SIA, the world's second-largest airline by market value, has said it will start operations in April with one Boeing 777-200 aircraft. The new long-haul carrier plans to operate 14 aircraft by mid-2016. 

SIA is already the largest shareholder in short-haul budget carrier Tiger Airways Holdings , and the new long-haul carrier will enable it to better compete with rivals such as AirAsia and JetStar, a unit of Qantas .