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Tigerair Taiwan to tap discount flying
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Singapore budget carrier Tigerair and Taiwan-based China Airlines said yesterday they would set up a new no-frills airline to tap growing demand for cheap travel in Asia.
Tigerair Taiwan will have a paid-up capital of NT$2 billion (US$67.5 million), with the Singapore-based carrier holding a 10 percent stake, the two airlines said in a statement.
China Airlines, Taiwan’s leading airline by fleet size, will hold the balance.
Tigerair said in the statement that the new airline will be managed as a standalone entity but will utilise its website as well as sales and distribution platforms.
“The new JV will allow us to extend our presence into the new untapped markets of Taiwan, Japan and Korea,” said Koay Peng Yen, group chief executive of Tigerair.
Sun Hung-hsiang, chairman of China Airlines, said: “China Airlines’ knowledge of the Taiwan market coupled with Tigerair’s expertise in the no-frills sector should stimulate demand in the civil aviation market here.”
Demand for discount flying has been rising in Asia. Currently 12 foreign budget airlines, including Malaysia-based AirAsia and Japan’s Peach Aviation, offer services to and from Taiwan.
Tigerair, which was previously known as Tiger Airways before a rebranding exercise this year, has been looking for growth opportunities in Asia.
Last year, it bought 33 percent in beleaguered Indonesian carrier PT Mandala Airlines. In March, it raised over S$297 million (US$237 million) for its Asian expansion.
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