Singapore’s budget carrier Tiger Airways and Thai Airways will launch a low-cost airline expected to start operations next year, they said yesterday, potentially hastening a shake-up in the region.
Thai Tiger Airways will fly domestic and international flights from Suvarnabhumi International Airport in Bangkok, starting in the first quarter of next year, the statement said.
Thai Airways and another Thai entity will hold 51 percent in the airline with the remaining 49 percent under Tiger Airways.
No details were given on the investment cost for the new budget carrier, but the two partners were to hold a media conference call later yesterday after signing the memorandum of understanding in Bangkok.
Thai Airways said the venture would allow it to beef up its presence in the fast-growing budget travel market in Asia.
“With its disciplined approach to the low-cost model, Tiger Airways has proven that it has the right approach to competing effectively in the growing low fare travel market in Asia,” Thai Airways president Piyasvasti Amranand said.
“We believe that this move will provide revenue opportunities for Thai [Airways] and allow Thai to be more competitive in the region with the anticipated growth in the low cost market ... which we expect will lead to growth in air travel in the Asian market,” Amranand said.
Tiger Airways, partly owned by national carrier Singapore Airlines, has rapidly expanded its route network in the Asia-Pacific region since establishing operations in 2004.
The carrier flies to 37 destinations in 11 countries and has a fleet of 19 Airbus A320s, with plans to expand to 68 planes by December 2015.
Analysts from the Centre for Asia Pacific Aviation (CAPA) said the new budget carrier could potentially hasten a shake-up for the industry in the region, where some markets are still inhibited by entry barriers.
“The new joint venture ... raises the bar in low cost airline operations competition in Asia and could have a major impact on the pace of airline liberalization in the region,” Sydney-based CAPA said in a commentary.
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