SINGAPORE-BASEDTiger Airways, which is backed by family members of the deceased Tony Ryan, has signed a memorandum of understanding with Thai Airways International to form a new carrier.
Thai Tiger Airways will operate in Thailand from the first quarter of 2011, once it gets regulatory approvals.
Declan Ryan, Tony’s son, will be a director of the new entity. The Ryans sold some of their Tiger stock in August, netting close to €30 million.
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Perhaps the Government should turn to Denis O’Brien to help it raise funds internationally.
Earlier this week, O’Brien’s Digicel group in the Caribbean raised another $300 million on the bond market, on better terms than its previous issue.
And in double quick time, too. It has now raised $3.5 billion in bonds over the past five years for the cash-hungry business.
While the money still has to be repaid, O’Brien’s capital-raising ability in the current difficult financial climate is certainly impressive.
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Irish economist Pat McCloughan has set up a new company – PMCA Economic Consulting in Dublin.
He wants to “fill the gap with reasoned consideration and evidence-based analysis of a wide range of economic trends and developments”.
Given Ireland’s financial woes, he should have plenty of material to work with in the coming years.
