The budget air wars over Asia are warming up with news that Thai Airways International and Tiger Airways have formally signed a shareholders’ agreement to launch Thai Tiger Airways joint venture, announced last year.
RyanThai, which will own a 10 percent stake in Thai Tiger, will be represented on the Thai Tiger board by Declan Ryan, whose family founded Ryanair.
Thai Airways will own 49.9 percent while Tiger will hold 39 percent and individual Thai investors will own 1.1 percent.
The carrier will operate out of Bangkok’s Suvarnabhumi International and offer short-haul, point-to-point services within a 5-hour flying radius.
A startup date has not been announced.
Thai Tiger will compete with Thai Air Asia.
