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Formed in 2003. Started operations in 2004. Regional and international, low-fare, scheduled and charter, passenger and cargo, jet airplane services.
HDB Hub, East Wing #09-01 480B
Lorong 6 Toa Payoh
Singapore 310480, Singapore
8 Shenton Way
Singapore 068811, Singapore
SINGAPORE (REPUBLIC OF SINGAPORE) WAS ESTABLISHED IN 1965. IT IS AN ISLAND THAT COVERS 618 SQ KM AND ITS CAPITAL CITY IS SINGAPORE. THE OFFICIAL LANGUAGE IS ENGLISH AND ITS POPULATION IS 4 MILLION.
March 2003: Founded by Lim Cheng Beng, former Singapore Airlines (SIA), Deputy Chairman.
August 2003: Applied for its Air Operator's Certificate (AOC).
March 2004: Has yet to secure traffic rights because it is still waiting to gain its air operator's certificate (AOC) from the Civil Aviation Authority of Singapore.
Has tentatively earmarked Bangkok, Hong Kong, and Jakarta, as cities it would like to operate to.
Lim Chin Beng, Chairman, stated Valuair would be more like Jetblue (JBL), than Southwest (SWA), noting that (JBL) offers some frills such as in-flight entertainment. Fares are expected to be -40% of full-service carriers.
2 A320-232's (2164), Singapore Aircraft Lease Enterprise (SALE) (SIL) leased.
April 2004: Receives its Air Operator Certificate (AOC) from the Civil Aviation Authority (CAA). To be able to launch commercial flights, it is applying to the Air Traffic Rights Committee for rights to the destinations it wishes to serve.
ValuAir (VLU) is a low-fare regional operator.
May 2004: As Singapores's new low-cost carrier (LCC), launches commercial scheduled operations from Changi Airport with its inaugural flight to Bangkok.
Valuair has just two return fare categories: Flexi and Saver, instead of the multitiered fares common to most carriers. There is assigned seating and light meals are included in the fare.
August 2004: Selected Sabre Airline Solutions' SabreSonic passenger management solution "to drive its reservations, pricing, ticketing, reporting and customer service while providing a strong cost-effective platform for future growth and business expansion."
September 2004: In 12/04, to begin Singapore to Perth (A320, daily) to compete with Singapore Airlines (SIA) (777, 3/day) and Qantas Airways (QAN) (747/767, 2/day).
October 2004: Sim Kay Wee, CEO, 55, ex-Singapore Airlines (SIA).
Plans to expand into China, and is considering Shanghai, Shenzhen, & Chengdu.
November 2004: Successfully cut over to SabreSonic's reservation suite.
Singapore and Sri Lanka have signed an open skies agreement, where restrictions have been lifted on the countries' operations between the 2 countries.
December 2004: Agreed to sell approximately 20% shareholding to Star Cruises of Malaysia. The 2 companies will jointly market fly-cruise packages.
February 2005: Plans to launch flights to Australia's east coast cities by 12/05.
May 2005: Sim Kay Wee (CEO) resigns after 8 months in the job for "personal reasons." Lim Chin Beng, Chairman and founder, will act as CEO until a permanent replacement is found.
July 2005: Qantas's (QAN) ambitions to establish a low-cost beachhead in Asia appear to be hanging in the balance after its JetStar Asia (JSA) joint venture confirmed it is in alliance talks with another Singapore-based Low-cost Carrier (LCC), Valuair (VLU). In the first major consolidation move in the Asia market, Ken Ryan, CEO, JetStar Asia (JSA), which is 49% owned by (QAN), said (QAN) and (VLU) "are exploring a variety of ways they can work together or cooperate with each other." The development reflects (JSA)'s frustrations at its inability to access rights to China and Indonesia and the heavy low-cost competition centered on Singapore, where three (LCC)'s are based including Singapore Airlines (SIA) subsidiary Tiger Airways (TGR), and a 4th operator, AirAsia (ASW), is active. (JSA) which launched last 12/04, has withdrawn from Singapore - Pattaya and reduced its fleet requirements in 2005 from 8 to 4 A320's. Privately owned (VLU) launched in 5/04 also is facing considerable pressures in its home market. However, it gained limited rights to serve Chinese destinations and also operates to Hong Kong, Jakarta, Bangkok, & Perth.
Later, alliance talks with JetStar Asia (JSA)) broke down, raising further questions about its future in the intra-Asia market. Later still from off-again to on-again, when (QAN) offered an additonal #S50M into the merged airline. After (QAN) paid #S$60M/$36M, both finally agree to merge into a new entity with (QAN) stake reduced to 45.5%, that will own and operate both airlines, managed by Geoff Dixon, Chairman and Ken Ryan, CEO.
While (JSA) suggests that the two brands will continue, analysts believe it will absorb (VLU) and their networks will be consolidated.
(JSA) will gain routes to Jakarta, Chengdu, and Xiamen, which are considered (VLU)'s most important assets.
Talks are continuing with AirAsia (ASW) about a possible tie-up that could see (ASW) buying into the enlarged (JSA). Last week (ASW) offered to inject # S$20M into (VLU), and synergies exist for joint ground handling, and terminal access at destinations around Asia, as well as maintenance.
November 2005: Valuair (VLU) discontinued service to Bangkok and Hong Kong, leaving the Singapore airline with daily flights to Surabaya and thrice-weekly services to Jakarta,
December 2005: Valuair (VLU) will inaugurate nonstop service from Singapore to Denpasar (Bali) on Jan 27th. The airline will operate 3 flights a week, on Tue/Fri/Sun, with an A320.
April 2006: Tiger Airways (TGR) of Singapore offered to take over routes from archrival Jetstar Asia (JSA). Responding to press reports that Orangestar Investment Holdings, parent of Jetstar Asia (JSA) and Valuair (VLU), is seeking fresh funding of S$36 million/$22.3 million after having exhausted the S$60 million that was pumped in at the time of the merger last July, Tiger (TGR) CEO, Tony Davis said in a statement, "We are well placed to take over some of Jetstar Asia (JSA) - Valuair (VLU)'s regional routes if they want to give them up. With our new airplane deliveries, we will have the capacity to operate many more routes." He added that Tiger "had a strong cash flow and the vast majority of our shareholders' initial investment remains unutilized." (TGR) took delivery of its sixth A320.
May 2006: A320-233 (743), returned to AerCap (DEA), leased to Lotus Air (LOU).
June 2006: A320-233 (739), returned to AerCap (DEA), leased to Lotus Air (LOU).
July 2006: Valuair (VLU) is a low-cost airline serving destinations in South-East Asia.
90 employees (including 40 cabin attendants (CA)).
(IATA) Code: VF - 896. (ICAO) Code: VLU - VALUAIR.
Parent organization/shareholders: JetStar Asia (JSA); & Orange Star.
Main Base: Singapore Changi (SIN).
International, scheduled destinations: Bangkok; Chengdu; Hong Kong; Jakarta; Perth; & Xiamen.
September 2006: Qantas (QAN) has been given the green light by Australia's competition regulator to work closely with its offshore low-cost subsidaries based in Singapore. The Australian Competition and Consumer Commission (ACCC) issued a ruling authorizing Qantas to enter into a cooperation agreement with Orangestar Investment Holdings, the holding company for Jetstar Asia (JSA) and Valuair (VLU). The decision follows preliminary approval granted in May.
Both Jetstar Asia (JSA) and Valuair (VLU), which Jetstar (JSA) took over last year, have been struggling to compete with Tiger Airways (TGR), which opposed the linkup, suggesting it would reduce competition. However, (ACCC) Chairman, Graeme Samuels said, "The (ACCC) is satisfied that the agreement is likely to result in a net benefit to the public."
Qantas (QAN) and Orangestar will be allowed to coordinate flying operations and activities, including network and scheduling decisions, sales and marketing initiatives, price and inventory decisions and the sharing of expertise. It is expected that cooperation will be extended when Jetstar International (IMU) is launched in November.
January 2007: Singapore Changi airport posted record traffic in 2006 with 35.03 million passengers, up +8%, and 1.9 million tonnes of cargo, up +4.2%.
April 2009: Qantas (QAN) unveiled a streamlined ownership structure for Singapore-based Jetstar Asia (JSA) and Valuair (VLU) designed to provide a growth platform in line with its pan-Asian strategy. Under the structure, Qantas Group and Singapore-based Westbrook Investments acquired all shares in Orangestar Investment Holdings, the previous ownership holding structure, via a new holding company, Newstar Investment Holdings. Financial terms were not disclosed. Westbrook, wholly owned by Choo Teck Wong, will hold 51% of Newstar. Choo is a longtime partner of (QAN) and will be Newstar's Chairman. (JSA) (CEO), Bruce Buchanan and Orangestar Director, Paul Edwards also will serve on the new board. Chong Phit Lian will remain (CEO) of both (JSA) and Valuair (VLU).
Buchanan said that "coordination of (JSA), (VLU) and Jetstar (IMU) operations will provide better opportunities for customers by aligning their product offerings, while ensuring the (IMU) business model is applied across each business." He cited the ability to offer cheaper (IMU) "Lite" fares on (JSA) as an example. (QAN) previously had held 45% of Orangestar, with Temasek, the Singapore government's investment vehicle, owning 19%. Local businessmen held the balance.
FOR FUTURE STATEMENTS ON OPERATIONS, SEE JETSTAR ASIA (JSA).