Tiger Airways Holdings

Tiger Airways Holdings Limited (SGX: J7X) was a Singapore-based holding company for a group of low-cost carriers operating in the Asia-Pacific region. It was formed in 2007 to allow for easier management of the airline subsidiaries, as well as any future expansion, without having to focus on operational issues, leaving those to the airlines themselves. In 2016, Singapore Airlines purchased the company and it was delisted from the Singapore Exchange.

Tiger Airways Holdings Limited
Key people
Hsieh Fu Hua (Chairman)
Lee Lik Hsin (CEO)
RevenueIncrease SGD$1.73 billion
Increase SGD$1.23 billion
ParentSingapore Airlines

Group companiesEdit

Tigerair (Tiger Airways Singapore)Edit

Tigerair was incorporated on 12 December 2003 and began ticket sales on 31 August 2004. Services commenced on 15 September 2004 to Bangkok. It operates scheduled international services from Singapore Changi Airport and is a wholly owned subsidiary of Tiger Airways Holdings.

In 2006, the airline flew 1.2 million passengers, a growth of 75% from the previous year. The airline was the first to operate from the Budget Terminal in Changi Airport in order to achieve operating-cost savings and its cost structure is modeled after Ryanair. Despite regional competition, the airline has reiterated its current intention to remain focused on flying within a five-hour radius from its Singaporean base.

Following Singapore Airlines, acquiring Tiger Airways Holdings, the Tigerair brand was retired with operations merged into Scoot, its sister budget airline.[1]


Tigerair was listed on the Singapore Exchange in February 2010. As at 18 June 2014, Singapore Airlines, holding 40% of the issued shares, is the only substantial shareholder (i.e. holding at least 5% of the issued shares) of Tiger Airways Holdings.[2]

Financial performanceEdit

The following table shows the financial performance of Tiger Airways Holdings.

Tiger Airways Holdings Financial Highlights[3][4][5][6][7]
Year ended Revenue
Operating profit
Profit before
taxation (S$m)
Profit attributable to
equity holders (S$m)
EPS after tax
– diluted (cents)
31 March 2006 75 NA −37.4 NA NA NA
31 March 2007 171.2 NA −14.3 NA NA NA
31 March 2008 231 NA 37.8 NA NA NA
31 March 2009 378.0 425.5 −47.5 −47.6 −50.8 −14
31 March 2010 486.2 460.2 26.0 19.9 28.2 6.6
31 March 2011 622.3 575.0 47.2 57.0 39.9 6.9
31 March 2012 618.2 701.6 −83.4 −100.7 −104.3 −14.9
31 March 2013 866.0 859.0 7.0 −35.0 −45.4 −5.5
31 March 2014 734.0 786.1 −52.0 −231.6 −223.0 −22.6

Note: Tiger Aviation Holdings Limited was listed on 22 January 2010. Full financial information may not be publicised prior to that date.

Operating performanceEdit

Tiger Airways Holdings Operating Highlights[3][4][5][6][7]
Year ended Passengers
Load factor
Seat capacity
31 March 2009 3,167 5,245 6,459 79.4 3,989
31 March 2010 4,872 6,768 7,847 85.1 5,723
31 March 2011 5,968 8,209 9,583 85.8 6,958
31 March 2012 5,465 8,494 10,447 81.3 NA
31 March 2013 6,848 10,827 12,907 83.9 NA
31 March 2014 7,127 12,239 15,779 77.6 NA

Regional PartnersEdit

Due to the reorganization of Tiger Air into Budget Aviation Holdings, the following partners have either taken full ownership of the Tiger Air branding or cancelled operations.

Regional affiliate partnership venturesEdit

Tigerair AustraliaEdit

Tiger Airways Australia was formed as the Australian affiliate of Tiger Airways. In February 2007, Tiger announced that it hoped to become Australia's third full-scale domestic airline, competing directly with Virgin Blue and Qantas/Jetstar.[8] Tigerair Australia planned to use its Australian domestic network to support an expanded international presence through the gateway of Perth, expanded to include Melbourne. On 16 March 2007 the airline received approval from the Foreign Investment Review Board to establish the new subsidiary/[9][10]

Tiger Airways Australia began operations on 23 November 2007. In July 2008 Tiger 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 Tigerair Australia network but did not rule out returning in the future if costs were to decrease.[11] Tigerair Australia resumed services to Darwin on Friday 18 June 2010.[12] On 5 August 2008 the airline announced Adelaide as its second operational base[13] and began services on 10 January 2010.

Tiger resumed flights on 2 August 2011, after it was grounded for safety issues, on a restricted schedule maintaining its hub in Melbourne. Tiger Airways Australia re-opened its second base at Sydney with three aircraft in July 2012.

In October 2012, Virgin Australia Holdings (parent company of competitor Virgin Australia) announced its intention to purchase 60% of Tiger Airways Australia. The deal was completed in July 2013, after the airline had changed its name to Tigerair Australia.[14]

In October 2014, Virgin Australia Holdings announced plans to acquire the remaining 40% stake in Tigerair Australia for $1. Virgin retained the Tigerair name and acquired the brand rights for Tigerair to operate to some international destinations from Australia.[15][16][17] It ceased in March 2020.[18]

Tigerair TaiwanEdit

Tigerair Taiwan is a Taiwanese affiliate and was set up as a joint venture between China Airlines and Tiger Airways Holdings. China Airlines holds a 90% stake in the new carrier, while Tiger Airways Holdings holds the remaining 10%.[19] The carrier is based at Taiwan Taoyuan International Airport and currently has 6 aircraft.[20][21] It was the first Taiwan-based LCC to start operations and the only LCC in the country that are still flying (The other being V Air of Transasia Airways, which folded in 2016). In 2017, as Tigerair Singapore merged into Scoot, CAPA reports that China Airlines will buy another 10% from Budget Aviation Holdings, leaving China Airlines Group (China Airlines and Mandarin Airlines) the owner of the airline, despite allowed to retain the brand.[22]

Tigerair PhilippinesEdit

Tigerair Philippines was the Philippines affiliate of Tigerair. The joint venture was announced in November 2010 between Tiger Airways Holdings and SEAir, which saw Tigerair leasing its two Airbus A319 aircraft to SEAir to open up new international routes out of SEAir's base at Clark International Airport. The DG-coded flights were operated by SEAir's pilots and cabin crew using the leased aircraft which were repainted into SEAir's livery. Seats on these flights were marketed by Tiger in addition to SEAir's own website.[23]

In February 2011, Tiger Airways Holdings increased its share in the venture to 40%,[24] however in March 2014, Tigerair disposed of its 40% stake in the airline to Cebu Pacific, though flights were still temporarily branded as Tigerair Philippines.[25]

Tigerair MandalaEdit

Tigerair Mandala was the Indonesian affiliate of Tigerair. The airline was a joint venture between Tiger Airways Holdings and Saratoga Investama Sedaya.

Tigerair 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.[26] Tigerair Mandala sported a hybrid livery with the name 'mandala' on the fuselage accompanied by Tigerair's stripes on the tail and wingtips.

Tigerair Mandala started operations on 5 April 2012, with one domestic route between its home base Jakarta and Medan, the capital of North Sumatra. This was followed by its first international destination when it launched the Medan-Singapore route on 20 April 2012,[27] adding a second Indonesian destination to Tigerair Singapore network after Jakarta. In May 2012, Tigerair Mandala flew to Malaysia's capital Kuala Lumpur from Jakarta.[28] Before it ceased its operation Tigerair had 35.8% Shares.

Tigerair Mandala ceased all operations on 1 July 2014 as it was not able to sustain its operations and the airline's key shareholders decided to cease funding the carrier.[29]

Abandoned regional affiliate projectsEdit

Incheon TigerEdit

On 5 November 2007, Tiger Airways announced that it would be starting a Korean-based budget airline. Incheon Tiger was to have been a joint venture between Tiger Aviation Holdings 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.[30]

Thai TigerEdit

Tiger Airways and Thai Airways proposed forming an airline based in Thailand, where Thai Airways and Tiger Airways would own 51% and 39% respectively of the newly formed airline, while RyanThai would hold the remaining 10%.[31][32] Operations were expected to begin in the 1st quarter of 2011.[33] Tiger Airways subsequently 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, in December 2011 Thai Airways International, Tiger Airways and RyanThai decided not to proceed with the incorporation of Thai Tiger.[34]

See alsoEdit


  1. ^ Tigerair to come under Scoot brand name Channel NewsAsia
  2. ^ "annual report 2014" of Tiger Airways Holdings, page 104 ("shareholders’ information") of the pdf file
  3. ^ a b "Financial Year 10–11" (PDF). Tiger Airways Holdings Limited. Tiger Airways. Retrieved 8 January 2014.
  4. ^ a b "Financial Year 11–12 Results" (PDF). Tiger Airways Holdings Limited. Tiger Airways. Retrieved 8 January 2014.
  5. ^ a b "Financial Year 12–13" (PDF). Tiger Airways Holdings Limited. Tiger Airways. Retrieved 8 January 2014.
  6. ^ a b "Financial Year 13–14" (PDF). Tiger Airways Holdings Limited. Tiger Airways. Retrieved 10 May 2014.
  7. ^ a b "Operating Statistics Year 13–14" (PDF). Tiger Airways Holdings Limited. Tiger Airways. Retrieved 10 May 2014.
  8. ^ "Singapore's Tiger Airways to pounce on Australian domestic market". Channel NewsAsia. 9 February 2007.
  9. ^ Creedy, Steve (16 March 2007). "Growing Tiger gets its stripes". The Australian. Archived from the original on 16 October 2007. Retrieved 14 May 2012.
  10. ^ "Tiger Airways sets up Aussie subsidiary". The Sydney Morning Herald. 19 March 2007.
  11. ^ "Tiger suspends all Darwin flights". Northern Territory News. 1 August 2008. Retrieved 1 August 2008.
  12. ^ "Tiger Airways Roars Back To Darwin" (PDF). Tiger Airways Australia Pty Ltd. 18 June 2010. Archived from the original (PDF) on 22 September 2010. Retrieved 18 June 2010.
  13. ^ "Tiger sets up second home in Adelaide". The Age. Melbourne. 5 August 2008. Archived from the original on 15 May 2009.
  14. ^ "Virgin completes purchase of Tigerair stake, names Borghetti chair". The Australian. 8 July 2013.
  15. ^ "Virgin Australia pays $1 for Tigerair stake". The Australian. 17 October 2014.
  16. ^ "Virgin Australia plans full ownership of Tigerair Australia". Australian Aviation. 17 October 2014.
  17. ^ "Virgin Australia buys all of TigerAir Australia – for $1!". AUSBT. AUSBT. Retrieved 17 October 2014.
  18. ^ Here is what Bain Capital's Virgin Australia 2.0 will look like Executive Travveller 26 June 2020
  19. ^ "China Airlines to set up budget Tigerair Taiwan". Taipei Times (Press release). 26 December 2013. Retrieved 16 December 2013.
  20. ^ "Tigerair Taiwan Fleet Details and History". Planespotters.net. Retrieved 20 October 2015.
  21. ^ Shih, Kai-Chin. "LCC War Kicks Off in Taiwan: Tigerair Taiwan and V Air Ready To Take to the Skies". talkairlines.wordpress.com. talkairlines. Retrieved 25 September 2014.
  22. ^ "Tigerair Singapore 2017 outlook: fleet expansion resumes as brand disappears, transit traffic grows". Centre for Aviation. Retrieved 17 January 2017.
  23. ^ "Tiger Airways Press Release" (PDF) (Press release). Archived from the original (PDF) on 27 March 2012. Retrieved 1 October 2012.
  24. ^ Lectura, Lenie (18 April 2012). "Singapore's Tiger Airways eyes bigger pie of Seair". ABS-CBN News. Retrieved 1 October 2012.
  25. ^ "Tigerair Makes Progress in Its Recent Alliance With Cebu Pacific" (PDF). Singapore: Tigerair. 20 March 2014. Retrieved 10 May 2014.
  26. ^ "Archived copy" (PDF). Archived from the original (PDF) on 26 March 2012. Retrieved 14 May 2012.CS1 maint: archived copy as title (link)
  27. ^ Indonesian Airline Mandala Hopes Time is Right for Return | The Jakarta Globe Archived 3 May 2012 at the Wayback Machine
  28. ^ "Archived copy" (PDF). Archived from the original (PDF) on 28 March 2012. Retrieved 14 May 2012.CS1 maint: archived copy as title (link)
  29. ^ "Tigerair Mandala to Cease". Channel NewsAsia. Archived from the original on 22 June 2014. Retrieved 20 June 2014.
  30. ^ AFP: Singapore, Incheon scrap plans for new budget airline Archived 9 December 2010 at the Wayback Machine
  31. ^ Raghuvanshi, Gaurav. "Thai Airways to decide on new plane order in weeks".
  32. ^ [1] Archived 3 August 2010 at the Wayback Machine
  33. ^ "New Thai Tiger to fight Jetstar – Herald Sun".
  34. ^ Tiger Airways drops joint venture with Thai Airways