The nation’s flag carrier Singapore Airlines (SIA) is looking to fully tame Tiger Airways by making an offer they cant’ refuse.
In a statement released today, SIA expressed their wholehearted interest in buying out all the remaining shares of Tiger Airways that they don’t already own.
As it is, SIA already has a 56% ownership stake in the budget airline. What the world’s second best airline wants to do is to delist and privatise Tiger Airways should it be fully acquired.
The news comes after it was announced yesterday that excluding Tiger Airways, SIA’s Group operating profit improved $79 million year-on-year to $250 million. Tiger Airways actually recorded an operating loss of $10 million in the first half of the year, attributable to a loss in the second quarter.
“We are confident that full integration of Tiger Airways into the SIA Group will result in enhanced operational and commercial synergies, ensuring Tiger Airways’ long-term success,” said SIA CEO Goh Choon Phong.
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