Virgin Australia announced (30-Oct-2012) it entered an agreement with Tiger Airways Holdings to acquire a 60% stake in Tiger Australia for AUD35 million (USD36.2 million). In addition, Tiger Australia has agreed to make a payment of AUD5 million (USD5.2 million) to Tiger Airways, if Tiger Australia achieves certain financial performance targets. Tiger Airways and Virgin Australia have agreed to invest up to a further AUD62.5 million (USD64.6 million) into the business to fund growth in Tiger Australia. The JV has the flexibility to grow Tiger Australia's fleet from 11 to up to 35 aircraft by 2018. The agreement is subject to regulatory approval, including Australian Competition and Consumer Commission and Foreign Investment Review Board. As part of the agreement the carrier propose to enter into a shareholders agreement, brand licensing agreement and service agreement. [more - original PR]
Virgin Australia announces agreement to acquire 60% stake in Tiger Australia
You may also be interested in the following articles...
The CAPA airline fleet quiz: 15 challenging questions. CAPA Summit Singapore 2/3 March
Test your knowledge of the global aircraft fleet with this CAPA Quiz. If you have access to the comprehensive CAPA Fleet Database, it should be a breeeeze.
Rank your result:
15/15 = Outstanding! – you should set up your very own aircraft leasing company.
13-14/15 = Excellent – your colleagues should say the word ‘wiki…’ in front of your first name around the office.
10-12/15 = Very good – someone should shout you several drinks at the next air finance gathering.
9 or below/15 = Time to brush up – you need to sign up for CAPA's Fleet Database immediately.
Visit http://capaevents.com/AFFS17 for the answers
Qantas' Asian transformation, relaunching Beijing & Melbourne-Tokyo; highest Asian activity ever
Qantas has been transforming in Asia. Its partnership with Emirates and shift of European stopover hub from Asia to Dubai drove a need for Qantas to restructure its Asia network to support the local market, and not onward connections to Europe. Widebody capacity has become available as Qantas further decreases widebody services in the domestic market, which was overcompetitive and impacted by a decline in the resource sector, which was a key corporate contract focus.
In calendar 1Q2017 Qantas will operate more flights to Asia than at any time this decade, including prior to its Emirates-necessitated restructure.
Seat capacity has reduced slightly, reflecting the use of smaller aircraft (A330s instead of A380s) but Qantas still has more seats for the local market since it no longer sells onward flights to Europe. Qantas' most recent Asian additions are the relaunching of Melbourne-Tokyo (taking the service over from Jetstar, which will instead open new flights to Vietnam) and Sydney-Beijing – an important market for its JV with China Eastern as Virgin Australia signals its intent to fly to Beijing in 2017, in partnership with HNA.