Staff Reporter
,
Singapore
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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