That was done as the airline sought to compete more effectively against Qantas Airways, the Australian flag carrier. With Tiger, Virgin will have a company that can be deployed against Qantas's low-cost arm Jetstar. "This transaction enables Virgin Australia to access the budget market and enables Tiger Australia to expedite its growth, providing greater competition to this important market segment," says Borghetti. "By partnering with Tiger Airways, we can use our expertise to leverage Tiger Australia's competitive cost base and build a sustainable budget carrier." Tiger remains committed to growing its Australian fleet and adding more destinations and frequencies, says Tiger Airways Holdings' group chief executive Koay Peng Yen. "The joint venture will bring about a stronger and more competitive Tiger Australia and allow us to deploy more capacity and attractive budget offerings to our customers," adds Koay.