Tigerair (Singapore) (originally Tiger Airways) is going away. Parent Singapore Airlines has decided to consolidate its budget airline subsidiaries under the Scoot brand and name on July 25, 2017. Tigerair’s (Singapore) aircraft are being repainted in Scoot’s livery. Tigerair’s TR code will survive and will be transferred to Scoot, replacing Scoot’s TZ code.
Tigerair Taiwan and Tigerair Australia will continue to operate under the Tigerair brand.
Scoot issued this statement:
Since May 2016, Scoot and Tigerair has been working to integrate reservation systems, flight schedules and connections, conditions of carriage, check-in counters and call centers. Those integrations have since been completed.
On July 25, 2017, the integration will be finalized and Scoot and Tigerair will merge to operate under a single brand, Scoot. With the merger, Tigerair will operate under the Scoot brand, however the Scoot designator code (TZ) will be re-designated as TR. This merger is part of our long-term growth strategy and to enable a more seamless travel experience for all our guests.
Top Copyright Photo: Tigerair (Singapore) Airbus A320-232 WL 9V-TRI (msn 5596) BKK (Michael B. Ing). Image: 924909.
Map: Tigerair (Singapore) destinations are in orange:
Tiger Airways Holdings Limited (Tigerair) (Singapore) has reported an operating loss of S$25.3 million ($19.8 million US) for the quarter ended September 30, 2014 (Fiscal Second Quarter), compared to an operating loss of S$12.8 million ($10.0 million US) recorded in the previous corresponding quarter last year
Tigerair Singapore recorded an operating loss of S$31.3 million ($24.5 million US) for the quarter compared to S$18.1 million $14.2 million US) a year ago. Revenue decreased by 4.9% to S$143.9 million ($113 million US) on the back of a rationalization of Tigerair Singapore’s network. The resulting improvement in load factor (+4 percentage point), was nevertheless offset by lower yields (-10.4%). Expenses increased by 3.4% to $175.2 million on higher unit cost (+3.1%).
The Group recorded loss after tax of S$182.4 million ($143.3 million US) in the Fiscal Second Quarter, compared to profit after tax of S$23.8 million $18.7 million US) a year ago. In total, the Group recorded one-off accounting provisions aggregating S$161.1 million in 2QFY15, mainly comprising S$99.3 million $126.6 million US) relating to the sublease of surplus aircraft and S$59.8 million ($46.9 million) for the divestment of Tigerair Australia.
According to the airline, “Tigerair’s largest shareholder, Singapore Airlines Limited (Singapore), has undertaken to subscribe for its pro rata entitlement, and also subscribe for excess Rights Shares, up to a total of S$140 million. Prior to the Rights Issue, SIA will convert its perpetual convertible capital securities (PCCS) holdings into Shares. The conversion will raise SIA’s stake in Tigerair from 40% to approximately 55% before the Rights Issue, effectively making Tigerair a subsidiary of SIA. SIA will not be making a general offer as Tigerair’s minority shareholders had approved a whitewash resolution in March 2013 to waive their rights to receive a general offer as a result of the PCCS conversion.”
In other news, Tiger Airways Holdings group (Tigerair) has reached an agreement with InterGlobe Aviation Limited (IndiGo) relating to the subleasing of 12 of Tigerair’s surplus aircraft by the Indian budget carrier. This sublease arrangement enables the Group to reduce excess capacity significantly and hence lower related leasing cost.
Most of these aircraft were previously operated by Tigerair Philippines and Tigerair Mandala, and had been returned to the Group upon its divestment of Tigerair Philippines in March 2014 and Tigerair Mandala’s cessation of operations in July 2014.
These 12 aircraft will be progressively delivered to IndiGo over a period of six months commencing in October 2014. Each aircraft will be subleased for between three and four years. With the lease of one of the 12 aircraft expiring in 2018, only 11 of the aircraft will be returned to the Group at the end of their respective sublease periods. Following their return, seven of the 11 aircraft are expected to re-join the operating fleet, while the remaining four may be progressively re-introduced back to the service network within two years.
Copyright Photo: Michael B. Ing/AirlinersGallery.com. Airbus A320-232 9V-TRI (msn 5596) of Tigerair (Singapore) arrives in Bangkok.