Tiger Airways declawed as hopes fade for Thai budget carrier

According to Mr. Supoj Suplom, permanent secretary at Thailand’s Transport Ministry, the Ministry has rejected Tiger’s proposal to start a budget carrier with Thai Airways.

According to DMG, he cited reason as “details weren’t clear” without elaborating further.

Here’s more from DMG:

Following that, Tiger made a statement saying that it has not been informed of such a decision and that the Group was told by Thai Airways that investment approvals for Thai Tiger are still pending.

Our thoughts: Our forecast remains unaffected as we have assumed the JV not to pull through.
Maintain SELL with TP of S$0.76, based on 2x price to book, the average its LCC peers are
trading at.

Photo credit: Kentaro Iemoto

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