Subscribe free to our newsletters via your
. Space Industry and Business News .




AEROSPACE
China Airlines, Tigerair to set up Taiwan budget carrier
by Staff Writers
Singapore (AFP) Dec 16, 2013


Singapore budget carrier Tigerair and Taiwan's China Airlines said Monday they would set up a new no-frills airline to tap growing demand for cheap travel in Asia.

Tigerair Taiwan will have a paid-up capital of Tw$2 billion ($67.5 million), with the Singapore-based carrier holding a 10 percent stake, the two airlines said in a statement.

China Airlines, Taiwan's leading airline by fleet size, will hold the remaining 90 percent.

Tigerair said in the statement the new airline will be managed as a standalone entity but will utilise its website as well as sales and distribution platforms.

"The new JV (joint venture) will allow us to extend our presence into the new untapped markets of Taiwan, Japan and Korea," said Koay Peng Yen, group chief executive of Tigerair.

Sun Hung-Hsiang, chairman of China Airlines, said: "China Airlines' knowledge of the Taiwan market coupled with Tigerair's expertise in the no-frills sector should stimulate demand in the civil aviation market here."

In a press conference at one of its hangars in Taiwan's Taoyuan airport, Sun said China Airlines had been considering investing in a low-budget carrier for four or five years.

He said the time was now right, given the improved relations between Taiwan and China and the "opening skies" of countries in the region.

Sun said the airline would benefit from Taiwan's location some four hours' flying time from Northeast Asia, Southeast Asia, Hong Kong, Macau and the Chinese mainland.

He said the joint venture was expected to become operational in 2014 with three A-320s, and the fleet would expand to 16 planes in 2016 or 2017.

He expected it to turn a profit in three years.

The formation of the new carrier comes just a month after TransAsia Airways, Taiwan's first private airline, secured government approval to set up a so-far unnamed budget subsidiary.

Demand for discount flying has been rising in Asia. Currently 12 foreign budget airlines, including Malaysia-based AirAsia and Japan's Peach Aviation, offer services to and from Taiwan.

Singapore's Tigerair, which was previously known as Tiger Airways before a rebranding exercise this year, has been looking for expansion opportunities in Asia.

Last year it bought a 33 percent stake in beleaguered Indonesian carrier PT Mandala Airlines. In March, it raised more than Sg$297 million ($237 million) to fund its Asian expansion plans.

Its shares rose 2.00 percent to Sg$0.51 in mid-day trade Monday after the announcement.

.


Related Links
Aerospace News at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





AEROSPACE
Israel considers buying its own 'Air Force One'
Jerusalem (AFP) Dec 15, 2013
A week after Prime Minister Benjamin Netanyahu reportedly chose to miss Nelson Mandela's memorial service because of travel costs, Israeli ministers voted Sunday to consider buying an Israeli equivalent of "Air Force One." They approved creating a committee to consider buying a plane for the premier and president, "as is customary in many other countries," a government statement said, float ... read more


AEROSPACE
New sensor tracks zinc in cells

Morphing material has mighty potential

Polymers can be semimetals

A Stopwatch for Electron Flashes

AEROSPACE
Northrop Grumman Reinvents Satellite Communications for Aircraft

US Navy Accepts MUOS-2 Satellite, Ground Stations After On-Orbit Testing

Boeing Tests Validate Performance of FAB-T Satellite Communications Program

Intelsat General To Provide Satellite Services To US Marines

AEROSPACE
Arianespace orders 18 rockets for 2 bn euros

Iran sends second monkey into space

SpaceX to bid for rights to historic NASA launch pad

Arianespace to launch GSAT-15 and GSAT-16 satellites for India

AEROSPACE
Galileo achieves its first airborne tracking

'Smart' wig navigates by GPS, monitors brainwaves

CIA, Pentagon trying to hinder construction of GLONASS stations in US

GPS 3 Prototype Communicates With GPS Constellation

AEROSPACE
France loses out on Brazil jets deal: report

British hopes of $10B Emirates Typhoon deal sink

China Airlines, Tigerair to set up Taiwan budget carrier

Lockheed Martin and the US Navy Strengthen International Alliance with Helicopter Acceptance

AEROSPACE
Next-generation semiconductors synthesis

A step closer to composite-based electronics

50 Meters of Optical Fiber Shrunk to the Size of Microchips

Chips meet Tubes: World's First Terahertz Vacuum Amplifier

AEROSPACE
CryoSat Tracks Storm Surge

Juno Gives Starship-Like View Of Earth Flyby

China-Brazil satellite fails to enter orbit

Mysteries of Earth's radiation belts uncovered by NASA twin spacecraft

AEROSPACE
Croatia says no Syrian chemicals will enter its ports

US top court examines rules on cross-border air pollution

Chinese newspaper blasts state TV for tribute to smog

Air pollution in Europe kills even at guideline levels




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement