Newly approved low-cost carrier, Tiger Airways Philippines said on Thursday it is willing to spend $15-million working capital for 2013.
“I think the investment is more on the working capital. I think in terms of working capital were looking about $15-million working capital for this year, to cover everything including [the maintenance],” said Olive Ramos, president and chief executive officer of Tiger Airways.
The carrier also plans to increase its revenue forecast to P5 billion for this year, a three times higher than 2012.
“We are confident that this growth can be supported by the bullish tourism targets of the Department of Tourism and the increasing number of travelers from wider segments of the society,” Ramos said.
The carrier will aim for leadership by pioneering target destinations and expanding its route network, through offering safe and reliable flights and sincere service to its passengers.
“Tiger Airways is a distinguished regional brand that differentiates itself in terms of safety and reliability. We are associating ourselves to this strength and capability by adopting the Tiger Airways brand in our marketing portal, liveries and the pursuit of customer satisfaction,” Ramos said.
The carrier will become the first to service the Kalibo to Singapore route. The airline will fly Kalibo-Singapore every Monday, Thursday and Saturday starting July 18, 2013. An additionalFriday will become available from August to October this year.
At present, Tiger Airways Philippines flies to Singapore, Bangkok, Hong Kong, and local destination such as Clark, Laog, Bacalod, Kalibo, Cebu, Tacloban and Puerto Princesa.
Tiger Airways Philippines maintains hubs in Clark International Airport and Terminal 4.
“We have incorporated some features that allow the passengers to be more comfortable during their flight at every affordable rates. We give value for their money by configuring our planes with less seats than most airlines, allowing passengers to have more leg room,” Ramos said.
Tiger Airways Philippines currently has a fleet of three A320 and two A319 aircrafts. Tiger Airways Holdings announced that it has a plan to have a fleet in 25 aircraft in the next three for five years.
“There is a lot opportunities in the Philippines. The compition is really good [low-cost carriers]. There is no over supply [low-cost players] at this point because its only now you see the middle class is growing, there are awareness on the travel,” Ramos said.
Based on the statistics of the Department of Transportation and Communications the increase in domestic travel is bigger than the increase in international travel.
Also, according to Ramos “The Filipinos, specialy the young Filipinos who started to work, you notice because of these call centers, theres an increase in spending, specially the young people and specially the use of the mobile phones, its very easy for them to travel, its only now that is coming out and there will never be an over supply on I think on the next two to three years.”
“Actually our challenge is for the people to know our brand, because they don’t know the Tiger brand yet, they have to be comfortable with the Tiger brand, because its something new,” she added.
“The more the airlines there would be [in the market]then the better for the Filipinos,” Ramos said.