Tiger forms new subsidiary, doubles fleet as part of its big leap

On top of revitalizing the content of its website—now a business unit by itself— the airline is also set to grow its current fleet from 21 to 43 by March 2013.

In a statement, Tiger Airways said its website will have the recently launched Stripes programme, a paid membership club with priority access for discounted fares and other privileges, as a core product. “The new subsidiary will be a vehicle for generating additional shareholder value and leveraging the strength of the airline’s website, www.tigerairways.com, which is already the leading airline travel website in Singapore. [We plan to make it] a leading on-line travel portal across the Asia Pacific region,” the carrier said.

Chin Sak Hin, Chief Financial Officer of Tiger Airways Holdings, said the company is now focused on improving its current position of 5th globally to become one of the top three airlines in the world for the amount of revenue generated from ancillary services. 

“As the number one airline in Asia and Australia for ancillary revenues, we are now focused on creating “tigerairways.com” as the next industry leading innovation. Given more than 20% of the group’s total revenues are now generated from ancillary services, the creation of a new subsidiary will enable the company to ensure that there is dedicated senior management focus on increasing an important source of profitability," he said.

Tiger Airways will also be expanding its pawprints by doubling the size of its fleet over the next two years. Having successfully grown the airline to 21 aircraft over the last six years, the group will grow to 43 aircraft by March 2013, marking the most rapid period of growth in the company’s history.

To support this next phase of growth, Tiger Airways has expanded its senior management team, whose members each now have on average over 20 years of aviation experience. In addition to CEO Tony Davis, CFO Chin Sak Hin, Australia MD Crawford Rix, incoming Singapore MD Stewart Adams, Tiger Airways has appointed Mike Coltman and Chris Ward to drive the development of initiatives in Thailand and the Philippines respectively. Mike has 14 years’ experience in low cost airline management including at airlines such as easyJet and Tiger Airways Australia. Chris has 27 years of aviation experience including management positions in British Airways Birmingham and more than 5 years with Tiger Airways in Singapore & Australia.

Tony Davis, President & Group CEO of Tiger Airways Holdings, said, “The team has done a fantastic job in building Tiger Airways during our start-up years. We grew from nothing to a profitable, public-listed company and from zero to 21 aircraft in six years.

“The management team’s focus will now be on replicating that success at an accelerated pace, now that we have gained the necessary financial resources, size and network. Doubling our fleet is now going to take just two years, not another six.

“With our new online business unit, a fleet that will be twice the current size, upcoming additional business units across the region and other initiatives, we look forward to achieving greater economies of scale and lower costs. Travellers can look forward to even greater access to the lowest possible fares and benefiting from intensified competition in Asia and Australia,"  Davis said.