Thai Airways, Tiger to launch joint low-cost carrier
August 2, 2010 - 4:23PM AEDT
Flag carrier Thai Airways and Singapore's Tiger Airways confirmed today they plan to form a new low-fare airline.
The "Thai Tiger Airways" joint venture will be 51 per cent owned by Thai Airways and a Thai entity and 49 per cent owned by Tiger, the two airlines said in an announcement to the Singapore exchange.
The new carrier will be based in Bangkok and is expected to start operations in the first quarter of 2011. It will offer domestic and international services within a five-hour flying radius, the airlines said.
Thai Airways is 51 per cent-owned by the Thai government. Tiger is 49 percent-owned by Singapore Airlines and part-owned by Singapore state investor Temasek .
Reuters
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