THAI and Tiger Airways form LCC
Posted: Tue 1 Mar, 2011 12:46 PM
Thai Airways International (THAI) have partnered up with Tiger Airways to enter a joint venture low-cost carrier to be based in Suvarnabhumi Airport in Bangkok.
The airlines have signed a shareholder agreement to establish Thai Tiger Airways Company Limited. RyanThai Limited is a co-investor in this venture. According to a report in Travel Daily Asia, the terms of the agreement indicate that RyanThai will hold 10% share, Tiger Airways will hold 39%, THAI will hold 49.9%, and the remaining 1.1% will be held by Thai individual shareholders.
The incorporation of Thai Tiger is still subject to the approval of Thai authorities. The plans for the joint venture were released back in August of 2010.
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