Tiger Airways will be ready for an initial public offering (IPO) by the end of this year, the Business Times reported, quoting the budget airline’s chief executive, Tony Davis. The newspaper also quoted Davis as saying that Tiger Airways is preparing to make its first investment overseas, in an airline somewhere in the Asia-Pacific region which he did not identify.
He said the investment would be small one to begin with, and that Tiger Airways would help it grow.
The Business Times remarked that Davis had recently joined the board of Advent Holdings. Advent Holdings owns and operates budget carrier Skywest Airlines, which is based in the Western Australian city of Perth.
Singapore Airlines Ltd owns 49 pct of Tiger Airways, government-linked investment company Temasek Holdings owns 11 pct and the rest is split between Tony Ryan (the founder of European low-cost airline Ryanair) and US private investor Indigo Partners.