Low Cost Asian Carrier Plans Take-Off This Year
Less than three months after
announcing its start up, Singapore's low cost airline, Tiger
Airways, has appointed a Chief Executive Officer and named its
Chairman. With the appointment of a dedicated chief executive, the
carrier will push full steam ahead with its plans to take off this
year as scheduled.
William A. Franke, managing partner and co-founder of Indigo
Partners, one of the shareholders in the venture, takes up position
as chairman of Tiger. Patrick Gan, a Singaporean who comes with
extensive regional experience, is Tiger's new CEO, responsible for
overseeing the airline's operational and administrative set up and
development.
Gan is a newcomer to the aviation industry, having spent
18 years in the pharmaceutical sector. He brings to Tiger his
breadth of experience in management, marketing and sales.
"Patrick has the experience, capability and aptitude we were
looking for in a CEO," said Franke. "He has international
experience, has worked in regional markets, started up divisions
and turned around companies in his previous positions. With his
record in management, sales, marketing, and troubleshooting, we
have full confidence that he is the right person for the job
ahead.
"An advantage is that he comes with no airline industry baggage,
so to speak, so we welcome his fresh perspective to our
business."
Tiger's partners are Singapore Airlines; Temasek Holdings;
Indigo Partners LLC, the aviation partnership of David Bonderman,
Bill Franke and Stephen L. Johnson; and Irelandia Investments
Limited, the private investment arm of the Ryan family -- Dr Ryan
is best known as the founder of Ryanair, the highly successful
low-cost carrier based in Dublin.
Franke brings to Tiger a wealth of
experience in the aviation industry, through Indigo's investments
in the sector as well as through his own experience, in areas
ranging from aircraft leasing and financing to the management of an
airline through bankruptcy to profitability.
Gan's experience in his previous positions includes
starting up new business in various Asian markets, regional
responsibility for up to 16 markets, international experience
including stints in Switzerland, Hong Kong, China and Taiwan,
involvement in mergers and turning around divisions that were
flagging.
Aiming to meet its schedule for take off in the last quarter of
2004, Gan's immediate priority will be to hire for key
positions and submit the AOC. Tiger anticipates a staff strength of
some 100, including pilots and cabin crew.
Gan will also lead crucial negotiations with airports in
the region as the airline identifies its route network. Tiger plans
to operate a single type of aircraft, and negotiations are
currently underway with manufacturers and lessors.
Gan said that the various tasks he undertook in his
previous positions qualify him for the job at hand. "It may have
been a different sector, but the business fundamentals of starting
up and managing a company remain the same. My focus at Tiger will
be to keep costs down so that we can offer passengers the lowest
possible fares in the market.
"We want Tiger to be the 'gold standard' for budget airlines in
the region -- lowest possible fares while at the same time offering
state-of-the-art aircraft, clean and comfortable inflight
facilities, most convenient connections, and staff who are
committed to the success of the airline.
"We have pedigree partners with the experience and resources to
ensure that we can strongly establish Tiger as a leader in Asia's
low cost carrier market."