Spot on Porch Monkey. They have been bleeding money, so what better face-saver than to blame it all on CASA? In some quarters Australia has a reputation for being amongst the most bureaucratic nations on earth - probably quite justified too - so they will feel no shame in deciding it all too hard to do business down-under.
Then Tiger will deploy their aircraft to a less regulated aviation environment and offer chosen (i.e. compliant) crews local Asian salaries.