Tiger Air

Tiger Air: MOU to form a new budget airline with Thai Airways via 49/51 JV. The new carrier, Thai Tiger Airways, will be based in Bangkok, and is expected to commence operations in 1Q11, pending regulatory approvals. The Thai Tiger Board will consist of 3 THAI and 2 Tiger nominees. This is positive news for Tiger, as the setting up of a third base has been anticipated for some time, and should drive a new phase of growth at the airline. 1QMar11 results due 5 Aug after market close.