The Competition Commission of Singapore (CCS) is seeking feedback on the proposed acquisition of additional shares in Tiger Airways (Tigerair) by Singapore Airlines (SIA).
CCS on Friday (Oct 24) said it received notification from the two carriers on the proposed deal a week ago. On Oct 17, Tigerair had reported an after-tax loss of S$182.4 million for the fiscal second quarter and said it will raise up to S$234 million via a rights issue.
SIA is already the biggest shareholder in the Singapore-based budget carrier and is seeking to raise its stake in Tigerair from 40 per cent to approximately 55 per cent. If the deal goes through, it would make Tigerair a subsidiary of SIA, on top of the Singapore flagship carrier's low-cost airline Scoot.
More information can be found at ccs.gov.sg. The closing date for the submission of feedback is Nov 7.
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