Tigerair Holdings
 |
|
| Public | |
| Industry | Airline |
| Headquarters | Singapore, Singapore |
|
Key people
|
Hsieh Fu Hua (Chairman) Lee Lik Hsin (CEO) |
| Revenue |
 SGD$734.0 million(2013/14) |
|
SGD$-231.6 million (2013/14) |
|
| Parent | Singapore Airlines (over 90%) |
| Subsidiaries | Tigerair (100%) |
| Website | www.tigerair.com |
Tiger Airways Holdings Limited (SGX: J7X) is a Singapore-based holding company for a group of low-cost carriers operating in the Asia-Pacific region, consisting of its flagship airline and wholly owned subsidiary, Tigerair (Tiger Airways Singapore). The holding company was formed in 2007 to allow for easier management of the airline subsidiaries, as well as any future expansion, without having to focus on operational issues, leaving those to the airlines themselves.
On February 5, 2016, parent company Singapore Airlines (SIA) announced it held over 90 percent of shares in Tiger and its plan to delist the budget airline.
Tigerair was incorporated on 12 December 2003 and began ticket sales on 31 August 2004. Services commenced on 15 September 2004 to Bangkok. It operates scheduled international services from Singapore Changi Airport and is a wholly owned subsidiary of Tiger Airways Holdings.
In 2006, the airline flew 1.2 million passengers, a growth of 75% from the previous year. The airline was the first to operate from the Budget Terminal in Changi Airport in order to achieve operating-cost savings and its cost structure is modeled after Ryanair. Despite regional competition, the airline has reiterated its current intention to remain focused on flying within a five-hour radius from its Singaporean base.
Channel News Asia, on 4 November 2016, reported that Tigerair brand will cease to exist, and will come under Scoot, its sister budget airline, also under its parent, Budget Aviation Holdings. The integration is expected to happen between mid and end of 2017, with the two carriers will also operate under a single license by the end of next year.
Tigerair has been publicly listed on the Singapore Exchange since February 2010. As at 18 June 2014, Singapore Airlines, holding 40% of the issued shares, is the only substantial shareholder (i.e. holding at least 5% of the issued shares) of Tiger Airways Holdings.
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