Tiger Airways looking to establish third subsidiary - report
Tiger Airways CEO, Tony Davis, stated the carrier is looking to establish a third subsidiary in the Asia Pacific region (The Financial Times/Singapore Business Times, 01-Mar-2010). Mr Davis stated the new subsidiary will be in a country where regulations will require the Group to establish the subsidiary through a JV with a local business, and denied that it would be established in India. Mr Davis also stated Tiger is “more disciplined” than competitor, AirAsia, which has become “distracted” by other issues, including Formula One motor racing, and has lost sight of the LCC business model. Furthermore, the CEO dismissed AirAsia’s agreement with Jetstar as “hot air”, which will offer very little in savings for the carriers.
Tiger Airways: “We are now actively looking at that opportunity. The timing is as soon as we can come up with an opportunity that we like, [and] do a deal with a partner that we can work with… We’re not in a land grab, we’re not driven by ego. We’re driven by hard, cold profit. You’re not going to see Tiger’s logo on the side a Formula One racing car, I’m afraid. You’re not going to see us buying a multitude of aircraft so that we can fly to every single destination in the globe,” Tony Davis, CEO. Source: The Financial Times, 01-Mar-2010.