Tiger Airways Holdings
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This article uses bare URLs for citations. (July 2012) |
 Logo of Tiger Airways Holdings |
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| Type | Public (SGX: J7X) |
|---|---|
| Industry | Airline |
| Founded | Singapore, 2007 |
| Headquarters | Singapore |
| Key people | JY Pillay (Chairman) Koay Peng Yen (CEO)[1] |
| Products | Tiger Airways Tiger Airways Australia |
| Website | www.tigerairways.com |
Tiger Airways Holdings Limited is a Singapore-based holding company that owns and operates pan-Asian airline Tiger Airways, as well as the Australian domestic airline, Tiger Airways Australia. The holding company was formed in 2007 to allow for easier management of the two subsidiaries, as well as any future expansion, without having to focus on operational issues, leaving those to the airlines themselves.
The group flew 2.25 million passengers in the year ended 31 March 2008, a 50% increase over the previous year. Revenue increased by 82% in the same period, although the company has not announced if this translates into any profits.[2] The company says that its Australian operations are generating positive cash flows without a need for cross-subsidies from its Singapore operations, but there are concerns that its "positive cash flows" may have taken into account forward bookings into the next fiscal year.[3]
Companies
- Tiger Airways Singapore (100%)
- Tiger Airways Australia (40%)
- Mandala Airlines (33%)
- South East Asian Airlines (40%)
Overseas ventures
Tiger Airways Australia
Tiger Airways Australia is a full subsidiary owned and managed by Tiger Airways Holdings.
On 9 February 2007, Tiger Airways formally announced that it hoped to become Australia's third full-scale domestic airline, competing directly with Virgin Australia and Qantas/Jetstar.[4] Tiger Airways Australia will use their Australian domestic network to support an expanded international presence with the current gateway of Perth, expanded to include Melbourne. On 16 March 2007 the airline received approval from Australian authorities to establish the new subsidiary,[5] and established Tiger Airways Australia Pty Ltd on the same day.[6]
Tiger Airways Australia began operations on 23 November 2007, and its current route network already spans every state in the country. On 31 July 2008 Tiger Airways Australia announced that it would suspend its flights from Darwin on 25 October, citing Darwin International Airport operating and fuel costs, making it the most expensive airport on the Tiger Airways Australia network but did not rule out returning in the future if costs were to decrease.[7] Tiger resumed services to Darwin on Friday 18th, June 2010.[8] On 5 August 2008 the airline announced Adelaide as its second operational base[9] and began services on 10 January 2010.
Avalon Airport is to become Tiger Airways Australia's third base, second for Victoria–Melbourne area, and will commence services on 10 November 2010.[10]
On 1 July 2011, Australia's Civil Aviation Safety Authority (CASA) had instructed Tiger Airways to suspend all domestic flights in Australia over safety concerns for one week, until 9 July 2011 due to a serious safety risk.[11][12][13] On 7 July 2011, CASA announced that it will apply for an extension of the suspension until 1 August 2011 at the Federal Court in Melbourne.[14] Immediately prior to the announcement of action by CASA in respect to Tiger, Group Managing Director, Tony Davis, sold $1,420,000 worth of shares in the Company.[15] At the time the Sydney Morning Herald questioned Tony Davis' belief in the long term, future of the Company.[16]
Tiger Airways Australia resumed flights on August 2, 2011 but it is currently operating on a restricted schedule maintaining its hub in Melbourne. Tiger will re-open its second base at Sydney with three aircraft in July 2012. Tiger will also resume flights to Tasmania twice daily from November, taking its Australian destinations to seven and fully utilising its aircraft local fleet, which is set to be expanded from 10 to 11.
Mandala
Mandala, a partner airline of Tiger Airways is 33% owned by Tiger Airways Holdings.
Tiger Airways ventured into the Indonesian market by buying the troubled Mandala Airlines, with the Saratoga Group holding a majority 51.3% and the remaining 15.7% by previous shareholders and creditors of Mandala.[17]
Its Air Operator's Certificate (AOC) has been reactivated in February 2011 and after 15 months of suspension, flights are expected to resume by April 2012. The restructured airline will adopt Tiger's business model and fly both local Indonesian domestic and international destinations within a 5-hour flying radius.[18] Initial routes have been reported to be Jakarta-Singapore-Medan-Singapore-Jakarta and Jakarta-Singapore-Denpasar/Bali-Jakarta.[19] Mandala sport a hybrid livery with the name 'mandala' on the fuselage accompanied by Tiger's stripes on the tail and wingtips.
Mandala resumed operations on Thursday 5 April 2012, with one domestic route between its home base Jakarta and Medan, the capital of North Sumatra. This will be followed by its first international destination when it launches the Medan-Singapore route on 20 April 2012,[20] adding a second Indonesian destination to Tiger's Singapore network after Jakarta. In May, Mandala flew to Malaysia's capital Kuala Lumpur from Jakarta.[21]
Mandala is expected to have a total of 10 fleet (currently 3) by end of 2012. This will be on-par with its other partner airlines, Tiger Airways Australia. Expansion of domestic flights and international flights to pre-Mandala bankruptcy days are expected to be re-instated progressively.
SEAir (South East Asian Airlines)
SEAir, a partner airline of Tiger Airways is 40% owned by Tiger Airways Holdings.
In November 2010, Tiger announced a partnership with Filipino carrier South East Asian Airlines (SEAir) which would see Tiger leasing its two Airbus A319 aircraft to SEAir to open up new international routes out of SEAir's base in Clark International Airport. The DG-coded flights are to be operated by SEAir's pilots and cabin crew using the leased aircraft which would be repainted into SEAir's livery. Seats on these flights would be marketed by Tiger in addition to SEAir's own website.[22]
The first route under this Tiger-SEAir Partner Airline Programme was Clark-Singapore, which saw SEAir taking over Tiger's own TR-coded flights on this route. Hong Kong, Macau and Bangkok were subsequently added. It was then expanded to include domestic jet flights from Manila's Ninoy Aquino International Airport to Cebu and Davao but ticket sales were stopped abruptly due to a cease and desist order imposed by the Filipino Civil Aeronautics Board (CAB) following protests from Filipino carriers Philippine Airlines, Cebu Pacific, Zest Airways, and Air Philippines.[23] The ban was subsequently lifted in November 2011 after the regulator determined the partnership was not breaking local cabotage laws,[24] with SEAir planning to launch the domestic flights by May 2012.[25]
Meanwhile two new destinations from Clark have been added under this partnership, namely Kalibo in the Philippines and Kota Kinabalu in Malaysian Borneo. The flights are planned to commence in May 2012 following the withdrawal of the Clark-Macau route which is no longer bookable on the websites of both airlines. Flights to Malaysia were made possible after the CAB awarded SEAir the rights to fly 2,520 weekly seats between Clark and Kuala Lumpur; 1,260 weekly seats to Kota Kinabalu; 540 weekly seats to Kuching; another 540 seats to Penang; and another 540 seats to Langkawi.[26][27]
In February 2011, Tiger Airways Holdings Ltd, parent of Tiger Airways increase the shares to 40%.[28]
As of May 2012, SEAir commences flights from Clark to Kota Kinabalu, Bangkok, Hong Kong, Singapore and Kalibo and these are marketed via Tiger Airways website and call centres. Future routes could includes Kuala Lumpur, Penang, Cagayan De Oro and Puerto Princessa.
Abandoned overseas ventures
Incheon Tiger Airways
On 5 November 2007, Tiger Airways announced that it would be starting a Korean-based budget airline. Incheon Tiger Airways was to have been a joint venture between Tiger Aviation and Incheon Metropolitan City, flying to destinations in Japan, China, Mongolia and the Russian Far East. The airline was to be based in South Korea's Incheon Airport and planned to begin services by 2009; however, the project was abandoned in December 2008.[29]
Thai Tiger Airways
Tiger Airways and Thai Airways International will form an airline based in Thailand, where Thai Airways International and Tiger Airways will own 51% and 39% respectively of the newly formed airline, while RyanThai will hold the remaining 10%.[30][31] Operations are expected to begin in the 1st quarter of 2011.[32] Tiger Airways has dropped its plan to form a Bangkok-based low-cost joint venture with Thai Airways after failing to get the necessary investment approvals from the Thai government. As a result, Thai Airways International, Tiger Airways and Ryanthai decided not to proceed with the incorporation of Thai Tiger Airways.[33]
Tiger Airways is publicly listed on the Singapore Exchange since February 2010. According to the 2012 Annual Report, the main shareholders in Tiger Airways Holdings, as of 15 June 2012, who hold more than 5% shares, are:[34]
- Singapore Airlines Limited (32.84%)
- Dahlia Investments Pte Ltd (7.37%)
References
- ^ "Tiger Airways appoints new group CEO". Channel News Asia. Retrieved 9 July 2012.
- ^ Channelnewsasia.com
- ^ "Tiger on the jump in Australia – smh.com.au". The Sydney Morning Herald. 22 April 2008.
- ^ "Singapore's Tiger Airways to pounce on Australian domestic market". Channel NewsAsia. 9 February 2007.
- ^ Creedy, Steve (16 March 2007). "Growing Tiger gets its stripes". The Australian.
- ^ "Tiger Airways sets up Aussie subsidiary". The Sydney Morning Herald. 19 March 2007.
- ^ "Tiger suspends all Darwin flights". Northern Territory News. 2008-08-01. Retrieved 2008-08-01.
- ^ "Tiger Airways Roars Back To Darwin". Tiger Airways Australia Pty Ltd. 2010-06-18. Retrieved 2010-06-18.
- ^ "Tiger sets up second home in Adelaide". The Age (Melbourne). 5 August 2008.
- ^ "Tiger Airways Announces New Base and Two New Aircraft For Avalon Airport and Victoria". Tiger Airways Australia Pty Ltd. 2010-04-19. Retrieved 2010-04-19.
- ^ "Tiger planes grounded, pose 'serious risk'". news.com.au. 2011-07-02. Retrieved 2011-07-02.
- ^ The Sydney Morning Herald. 2 July 2011 http://www.smh.com.au/travel/travel-news/aviation-watchdog-lost-confidence-in-troubled-tiger-20110702-1gvse.html
|url=missing title (help). - ^ Tiger Airways
- ^ Gibson, Peter (6 July 2011). "CASA to seek to extend Tiger suspension". Civil Aviation Safety Authority. Australian Government. Retrieved 7 July 2011.
- ^ Notice Of Interest/Changes In Interest
- ^ The Sydney Morning Herald. 2 June 2011 http://www.smh.com.au/business/tiger-boss-sells-shares-20110601-1fgll.html
|url=missing title (help). - ^ http://www.tigerairways.com/news/20120221.pdf
- ^ New Investors Could Return Mandala to Indonesia’s Skies | The Jakarta Globe
- ^ Pacific Royale Dan Mandala Siap Terbang - Kontan Online
- ^ Indonesian Airline Mandala Hopes Time is Right for Return | The Jakarta Globe
- ^ http://www.tigerairways.com/news/20120327.pdf
- ^ http://www.tigerairways.com/news/20101123a.pdf
- ^ Civil Aero Board investigates if SEAIR is 'dummy' for Tiger | ABS-CBN News
- ^ Airline regulator OKs Seair international, domestic routes - InterAksyon.com
- ^ Seair readies new routes with ban lifted | BusinessWorld Online Edition
- ^ Seair, AirAsia receive Manila to Malaysia flying rights | Asian Shipping-Freight-Cargo-Logistics Newspaper - Transport and Maritime Guide
- ^ CAB allows AirAsia Phils, Seair flights to Malaysia | ABS-CBN News
- ^ Singapore's Tiger Airways eyes bigger pie of Seair | ABS-CBN News
- ^ AFP: Singapore, Incheon scrap plans for new budget airline
- ^ Thai Airways to decide on new plane order in weeks - MarketWatch
- ^ [1][dead link]
- ^ New Thai Tiger to fight Jetstar | Herald Sun
- ^ Tiger Airways drops joint venture with Thai Airways
- ^ http://www.tigerairways.com/news/Tiger_Airways_AR_2012_Supp.pdf
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