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Australian budget carrier, Tigerair has officially ceased operations on September 10, 2020.
Tiger Airways Australia, operating as Tigerair Australia, was an Australian low-cost airline commenced services in the Australian domestic airline market on 23 November 2007.
Later in 2014, Virgin Airlines fully acquired Tigerair for $1 and to its domestic as well as international services.
Virgin became Asia-Pacific region’s first airlines to fall for Pandemic, when it was placed into voluntary administration on April 21, with debts of $6.8 billion.
The US private equity firm Bain Capital fully acquired Virgin for $3.5 billion last month.
Following the takeover, the new owner announced on 5 August “The Tigerair brand will be discontinued in the market as there is not sufficient customer demand to support two brands at this time,”
On 25 March 2020, Tigerair suspended all operations as a result of the COVID-19 pandemic., and yesterday the Tigerair has officially shut down its operations.
“Tigerair Australia’s Air Operator Certificate (AOC) and the resources necessary to support the AOC will be retained to support optionality to operate an ultra-low-cost carrier in the future when the domestic market can support it.” the Bain Capital announced.