Incheon Tiger Airways

[Azri M. 0]

While our AK is expanding, the "other" LCC is aggresive also...

Singapore's Tiger Airways Forms Budget Airline With South Korean City Incheon

 

November 5, 2007 8:35 a.m. EST

 

Ishita Sukhadwala - AHN News Writer Singapore (AHN) - Singapore low cost carrier Tiger Airways is to form a joint venture company with South Korean city of Incheon to form a budget airline to service the region, according to an agreement signed Monday.

 

The mayor of Incheon, Ahn Sang Soo, is hoping the new airline, called Incheon Tiger Airways, will help the South Korean city become an aviation hub for northeast Asia.

 

Tiger Airways will have 49 percent stake and the balance 51 percent will be owned by Incheon and Korean investors.

 

The Associate Press (AP) reports in The International Herald Tribune that Tony Davis, Tiger's chief executive told a press conference: "Essentially we want to become a pan-Asia Airline and today's announcement is an important step in that direction."

 

"I am confident that our customers in Korea, eastern China and Japan will be receptive and embrace low-cost travel."

 

The airline hopes to start operating in the next 12 months, before the Beijing Olympics in August 2008. Its initial fleet will consist of five Airbus A320 aircraft.

 

AP quotes Sang Soo saying: "Tiger is the most successful one in terms of budget airline business, so we want to make a strong relationship with them to have a good business."

 

Tiger Airways is backed by Singapore Airlines. It is also looking at markets in far east of Russia and Mongolia.

 

Monday's announcement comes as Asia is witnessing an unprecedented boom in the airline industry as a result of increased wealth among people in the region combined with increased demand for air travel.

 

http://www.allheadlinenews.com/articles/7009058288

Edited November 5, 2007 by Azri M.

[Seng Lim 0]

Wow this is definitely a really good news for everyone.