Tiger Airways lodged a preliminary prospectus with the Monetary Authority of Singapore regarding its plans to launch an IPO to help funding aircraft orders (Bloomberg, 21-Dec-2009/AFP, 22-Dec-2009). The prospectus did not disclose how much the carrier plans to raise, but did confirm that Citigroup, DBS Bank and Morgan Stanley have been hired to assist with the sale. Indigo, which currently has a 24% stake in the carrier, will divest part of its stake through the sale, while RyanAsia Ltd plans to decrease its stake if an over-allotment option is used (Reuters, 21-Sep-2009). Singapore Airlines and Temasek have no plans to divest any of their stakes.
Tiger Airways confirms plans to launch an IPO, Indigo to divest part of stake
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Norwegian overtakes Scoot as second largest long haul LCC after AirAsia X: long haul low cost Part 3
In 3Q2017 Norwegian will overtake Singapore’s Scoot to become the world’s second largest long haul low cost airline after Malaysia’s AirAsia X. Ironically Norwegian’s new route from London Gatwick to Singapore will help propel it into the number two position.
Gatwick-Singapore is one of 20 new long haul routes being launched by Norwegian over the next five months, giving the LCC group 48 long haul routes. Norwegian will have more long haul routes at the end of 3Q2017 than both AirAsia X and Scoot, but AirAsia X will still have significantly more capacity.
Long haul low cost operations now account for less than 0.5% of total global seat capacity, but the sector is expanding fast and starting to become more mainstream. This summer there will be more than 160 long haul low cost routes operated by 16 airlines.
Norwegian strengthens London Gatwick & Singapore Changi LCC hub position: long haul low cost Part 2
Norwegian’s launch of services between London Gatwick and Singapore Changi has significant ramifications for the airports at both ends of the route. It could be potentially followed by several new long haul LCC routes to Asia from Gatwick, and several new long haul LCC routes to Europe from Changi.
Gatwick and Singapore’s Changi are among the five largest LCC airports in the world. However, Gatwick has virtually no service to Asia, and Europe has not been a growth market for Changi in the past several years.
This is the second in a series of reports on Norwegian’s new London-Singapore route and the fast expanding long haul low cost market. Norwegian is launching four weekly 787-9 flights from London Gatwick to Singapore on 28-Sep-2017, increasing these to five weekly flights from 29-Oct-2017.