More news on the ongoing saga.
An SQ senior executive has been 'loaned' to Tiger in SIN to run the Asian operation while Tony Davis concentrates on the Australian operation. (I wonder where this leaves Crawford Rix).
As at 31 March Tiger in Australia only had $2.2M cash on the balance sheet. With revenues of $4M approx. per week this would suggest Tiger Australia will need major financial support from Tiger Singapore for a 1 week grounding, especially as most disrupted passengers are believed to be asking for a refund rather than a credit for future flights.
Should the grounding be for a number of weeks a great deal of financial support from SIN will be required and there could be interesting times ahead for the pilots and cabin crew.
It appears Tiger will have to 'spend money' to meet new requirements from CASA which will result in higher airfares and make them less competitive. No doubt CASA will be also looking closely at the financial aspects when reviewing the AOC status..
Ps. Air NZ have just increased their ownership of VBA from 14.19% to 14.99%.