LAUNCH OF THAI TIGER AIRWAYS DELAYED TO MAY

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By TESTCustomwebLP TESTCustomwebLP November 22, 2010 21:06

LAUNCH OF THAI TIGER AIRWAYS DELAYED TO MAY

The launch of Thai Tiger Airways will be delayed by two months as the financing strategy of parent Thai Airways International (Thai) has been rejected by the Transport Ministry.

Thai had planned to use a Bt99.8-million ($3.3million) extraordinary budget to pay for its 49.9% equity stake; however it now plans to turn to its regular outlay, which has resulted in the two month delay.

Ampon Kittiampon, chairman of Thai, has confirmed employees of Thai Tiger who have Thai citizenship would hold a collective 1.1% stake in the new carrier, making the total Thai shareholding 51%.

Tiger Airways Holdings will hold a 39% stake, while 10% will be held by Ryan Asia.

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By TESTCustomwebLP TESTCustomwebLP November 22, 2010 21:06
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