Tiger Airways caught off guard by Thai Airway's Chairman’s remarks on scrapping JV

Tiger issued a statement saying that Thai's management will continue their joint venture, despite the Chairman of Thai Airways saying it will discontinue the joint venture.

Here’ s more from Tiger Airways’ company statement:

In response to media reports, Tiger Airways Holdings Limited makes the following statement with regards to its planned establishment of Thai Tiger Airways Company Limited, in partnership with Thai Airways International Public Company Limited.

The Company has been informed by THAI’s management that there has been no progress in the regulatory approval of the Thai Tiger project and there is therefore no change in the status of the Thai Tiger project. THAI’s management has also clarified that there was no discussion on Thai Tiger at THAI’s Board meeting on 16 September 2011. The Company will review its position with regards to this project and make further announcements as appropriate.

As of 11:00am of today, Tiger Airways has announced that it is requesting for a halt in trading. Reasons for the halt have not been disclosed.

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