Remember this tiny country was bailing out the rest of the world during the financial crisis.
Yes and no, in many cases they were bailing out themselves crying foul. Having said that SQ is in good shape on the routes that you discussed to the Middle East. When I lived in Singapore it doesn't take long to work out that the media in Singapore is government controlled, it always paints rosy economic pictures about itself.
From the aviation perspective Singapore has done a fantastic job with infrastructure, terrific airport and maintenance facilities but these days has become very expensive for some airline operations.
As I see it, Thailand is a much more viable situation for JQ say BKK/VTBS as a base for direct services to Europe, The Middle East & Northern Asian ports. There is Talk the old DMK (Don Meaung) still operational may open up again to a limited amount of international flights based the LCC factor... (a strong rumour unconfirmed)
Back to TGW trying to team up with TG for a low cost operation is probably a good concept as Thailand does offer more lucrative traffic rights to other destinations, the problem is Thai Air Asia and Air Asia are well established making it difficult for TGW to establish itself as well. If Tiger are bleeding in Australia as has been suggested then I wonder if the start up costs for their Thai adventure will make them bleed even more?
Chiang Mai CNX is a very underutilised airport and reasonably well equipped to handle JQs proposed long haul flights onward, I am sure that the Thai government would welcome JQ with open arms.
If it is JQs intention to set up bases in S E Asia I believe Thailand would provide better value for money live in expenses for relocated crews if paid the proposed Singapore package. (talked about elsewhere on these pages) I say this as I think many pax flying to Europe would prefer the stop in SE Asia a little further down the road than SIN. From what I hear long haul passengers prefer the 9 hour flight to BKK ex SYD or MEL than the shorter haul to SIN as it makes the connecting leg to Europe a much longer flight.
My example is based when QF re routed QF5/6 from via BKK to via SIN extending the flight hours on the leg to FRK.
Not long after this move EK 418/9 picked up the slack DBX via BKK direct to SYD - NZ now daily events with high load factors.. At the time QF stated that there was not enough traffic via BKK and better to consolidate Singapore as the major hub for all QF flights. I am not convinced to this day QF made the right move regarding BKK.
Having said all of the above, I believe that JQ is better positioned than TGW to quickly establish itself as a major player in S E Asia. Trust that JQ consider the value of their existing Tech/CCs who I believe have directly helped J* be so successful.