"We are pleased to welcome a new Cub to our family and look
forward to nurturing its growth with our Filipino business
partners. The investment in SEAir is in-line with our
strategy to develop the business into a pan-Asian one, one
that will enable us to leverage on the strength of our
Singapore base and scale up the size of our business across
the region," said Tiger's Chief Executive Officer, Chin
Yau Seng.
The investment in SEAir is Tiger's second such joint venture
in Asia. Tiger acquired a 33% stake in Mandala Airlines in
Indonesia in January 2012. "We will continue to seek
opportunities to extend the Tiger reach in Asia Pacific. Asia
is one of the fastest growing areas in air travel and we
intend to play a major role in driving that growth," said Mr
Chin.
"The Philippines is a large country with more than 7,000
islands and a population of over 90 million, not including
the 11 million working and living abroad. There is enormous
potential to develop the domestic and international air
travel," added Mr Chin.
SEAir currently operates two Airbus A319 aircraft leased from
Tiger under the Tiger Partner Airline programme. In addition,
there are plans to expand the fleet to five aircraft within
this financial year with the addition of three A320
aircraft.
SEAir will be introducing new routes to the network, details
of which will be announced at an appropriate time. The
airline will adopt Tiger's business model. This includes
offering attractive fares to international and domestic
destinations within a five-hour flying radius from the
Philippines.
Established in 1995, SEAir is a commercial airline based in
the Philippines. SEAir operates domestic flights (within the
Philippines) and international flights to destinations such
as Singapore, Hong Kong, Bangkok and Kota Kinabalu.
The completion of the investment in SEAir is subject to the
required approvals being obtained. For more details please
refer to the SGXNet announcement.
###
ABOUT TIGER AIRWAYS HOLDINGS LIMITED (SGX: J7X)
(Company Registration Number: 200701866W)
(incorporated with limited liability in the Republic of Singapore on 1 February 2007)
Tiger Airways is one of Asia's leading low cost carriers.
Established in September 2004, the Airline has steadily grown
its fleet to 34 A320 aircraft with an average age of under
three years. It also has two A319s that are operated
independently by SEAir in the Philippines under a Partner
Airline programme. The Airline will build its fleet to 68
aircraft by December 2015. Operating from Singapore and
Australia, Tiger Airways' network extends to over 30
destinations across 12 countries in the Asia Pacific
region.
Tiger Airways is
committed to offering customers great value fares and
friendly service while maintaining the highest standards of
safety, security and reliability. For more information,
please visit www.tigerairways.com.
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