Uncle Jestar
15th Mar 2007, 03:50
AFX News Limited
Singapore's Tiger Airways wins Australian foreign investment board approval
03.14.07, 10:57 PM ET
SYDNEY (XFN-ASIA) - Singapore-based low cost carrier Tiger Airways Ltd said Australia's Foreign Investment Review Board has approved its application to operate Australian domestic services.
The airline said in a statement that the FIRB has ruled the creation of Tiger Airways Australia to be consistent with foreign investment policy.
Tiger Airways chief executive Tony Davis said in a statement that the government authority has not placed any specific conditions on it.
'We are very encouraged by the support that we have received from so many communities across the country and the tens of thousands of Australians who have visited our website and voted for their preferred domestic routes,' Davis said.
Tiger Airways Australia still needs to obtain an air operator certificate from the Civil Aviation Safety Authority before it can start domestic services in Australia later this year.
The company said it is in the final stages of negotiations with several Australian airports for its main operating base and expects to make a decision on which airport will be its operating base within a few weeks.
Tiger, which began flying in 2004, is owned by four shareholders including Singapore Airlines (other-otc: SGPJF.PK - news - people ) which has a 49 pct stake, and state-linked Singapore investment firm Temasek Holdings with 11 pct. Ireland's Tony Ryan, who founded low cost carrier Ryanair (nasdaq: RYAAY - news - people ), has a 16 pct stake.
In February, Davis said the new airline would look at flying into small centers rather than just major cities, similar to the operations of Ryanair in Europe and Tiger services in Asia.
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Apparently, the AOC is progressing very nicely, and Feb 2008 has been pencilled in for the major Aussie launch. I've heard that they are planning a much bigger operation including OS pairings (Pacific routes) than first thought due to the huge amount of interest shown. Let the games begin!!;)
Singapore's Tiger Airways wins Australian foreign investment board approval
03.14.07, 10:57 PM ET
SYDNEY (XFN-ASIA) - Singapore-based low cost carrier Tiger Airways Ltd said Australia's Foreign Investment Review Board has approved its application to operate Australian domestic services.
The airline said in a statement that the FIRB has ruled the creation of Tiger Airways Australia to be consistent with foreign investment policy.
Tiger Airways chief executive Tony Davis said in a statement that the government authority has not placed any specific conditions on it.
'We are very encouraged by the support that we have received from so many communities across the country and the tens of thousands of Australians who have visited our website and voted for their preferred domestic routes,' Davis said.
Tiger Airways Australia still needs to obtain an air operator certificate from the Civil Aviation Safety Authority before it can start domestic services in Australia later this year.
The company said it is in the final stages of negotiations with several Australian airports for its main operating base and expects to make a decision on which airport will be its operating base within a few weeks.
Tiger, which began flying in 2004, is owned by four shareholders including Singapore Airlines (other-otc: SGPJF.PK - news - people ) which has a 49 pct stake, and state-linked Singapore investment firm Temasek Holdings with 11 pct. Ireland's Tony Ryan, who founded low cost carrier Ryanair (nasdaq: RYAAY - news - people ), has a 16 pct stake.
In February, Davis said the new airline would look at flying into small centers rather than just major cities, similar to the operations of Ryanair in Europe and Tiger services in Asia.
[email protected]
Apparently, the AOC is progressing very nicely, and Feb 2008 has been pencilled in for the major Aussie launch. I've heard that they are planning a much bigger operation including OS pairings (Pacific routes) than first thought due to the huge amount of interest shown. Let the games begin!!;)