Tony Ryan aims to repeat Ryanair’s success in Asia.

TONY RYAN, the founder of Ryanair, has invested in a new low-cost airline in Singapore in a bid to repeat the success of Ryanair in Asia.

Dr Ryan is a founding shareholder in Tiger Airways, which plans to begin flying from Singapore to other destinations in south-east Asia from the middle of next year.

Other investors in the venture are Indigo Partners, a private equity firm headed by David Bonderman the Ryanair chairman, Singapore Airlines and Temasek Holdings, a Singapore based-company.

According to a statement released by Tiger Airways yesterday, Dr Ryan will take a 16% stake in the company, Mr Bonderman 24%, with the remaining shares held by the two other partners.

It is not known how much Dr Ryan is paying to acquire his stake in the new airline.

Tiger has appointed Charlie Clifton, a former director of operations at Ryanair, to establish the base in Singapore and to set up routes.

The low fares airline will operate a fleet of single type, narrow body aircraft.

No firm decision has yet been made on aircraft type but the company should be able to pick up a fleet at low prices.

Asia and Australia are expected to see a surge in the number of low cost carriers. Richard Branson this month floated his low cost carrier Virgin Blue on the Australian Stock Exchange, while Qantas is in the process of establishing its own budget airline.

In a statement, Dr Ryan said it was a personal pleasure to return to Asia with a new airline venture.

“Singapore has always been at the forefront of the aviation industry, and it should therefore be no surprise that Tiger is establishing its first base here, in partnership with SIA.

"I am confident that the new airline will deliver the benefits that low cost carriers can bring in terms of tourism and job creation, not only to Singapore, but also to the other countries it serves.”

Dr Ryan and his family remain among the largest shareholders in Ryanair, but have severed most of their ties with the airline.