Expanding from its base as Indonesia's largest low-cost carrier, the Thai operation aimed to quickly carve a six to eight percent market share in Thailand.
''Thai Lion Air will operate like our parent company, Lion Air, in Indonesia, on a total LCC model,'' Mr Hendroseputro said.
''People coming to Thailand look for value, so the potential of the Thai market is more towards the low-cost segment.''
In five years, Lion would be one of the strongest low cost carriers in Thailand, he said.
''In 2014, we are bringing an additional eight aircraft into Thailand, with a total of 50 aircraft in another five years,'' said Mr Hendroseputro.
He added the airline - going twice-daily to Chiang Mai and jakarta and once to Kuala Lumpur from December 30 - would also begin flying to Phuket and Had Yai, Singapore, India and China (probably Guangzhou and Hong Kong) next year.
Lion Air aims to offer ''consistently low fares'' not special offers that come and go. The free 15kg baggage allowance is also likely to attract passengers.