Singapore Airlines (SIA), key stakeholder in the Tigerair low-cost carrier (LCC) Group, has taken a controlling
interest in the LCC’s holding company and sold the Tigerair Australia offshoot to Virgin Australia for AUD1
($0.88).
In what is effectively a bailout of the Tigerair Group, SIA has upped itsstake in Tiger Airways Holdings from a
previous 40% to 55%. It announced a further guaranteed buy rights issue to raise some $190 million, which
could boost its total ownership to around 70%.