The ‘ Tiger’ Gets Bullish !!!
The business update for 2006/07 was given by a beaming Tony Davis, CEO of
Tiger Airways, yesterday, 18th April’07. There were a number of achievements
reported: maintenance of low cost and low fares on a consistent basis; 1.5million
seats sold – a doubling of the number of seats sold over the previous year; industry
leadership for punctuality – a must for businessmen; 99.99% of flights took off on
schedule and a capacity increase of 64%.
With a positive cash flow position and with no cash debt at the end the financial year,
no shareholder cash injections were required since Oct’05.
Tiger Airways has become the largest international low cost airlines to China, and has
the largest int’l network flying to Thailand, which will now include Udon Thani in the
north east . With its base at Clark Int’l Airport, Tiger is now co-operating with SEAir to fly in the Philippines.
In Australia, two gateways are in operation : Darwin and Perth, and is expected to launch
a domestic carrier this year. Besides being hopeful for the Malaysia-Singapore airlinks to open up, India and Brunei are also on Tiger’s radar screen. Five destinations are planned for, which will include Kerala and Goa, in India. However this has to await the approval of the Indian authorities.
With its current fleet of nine A320 jets, fleet expansion is on the cards. Even Boeing
Aircrafts may be considered. Clearly, Mr. Davis is entertaining great expectations.