Are Tigerair's latest tie-ups more meow than roar?

IN one fell swoop, Tigerair has struck strategic alliances with three airlines, a move aimed at accelerating the budget airline group's business growth in key Asian markets without overstretching its resources.

Analysts by and large see the development as financially prudent. Saddled with receivables from its poorly performing Singapore, Australia, Indonesia and Philippines carriers, Tigerair's minimal equity investment in its tie-ups is its way of expanding its footprint without putting pressure on its balance sheet, they say.

The question uppermost in investors' minds is how effective this strategy will be in helping the struggling group to turn around. Or are the tie-ups more "meow" than "roar" as one analyst suggested?