The Competition Commission of Singapore (CCS) on Friday (Nov 28) cleared the proposed acquisition of Tiger Airways Holdings by Singapore Airlines (SIA). CCS concluded that the transaction would not infringe the Competition Act as the ailing budget carrier is likely to exit its operations without the acquisition.
SIA is already the biggest shareholder in the Singapore-based budget carrier and will raise its stake in Tigerair from 40 per cent to 56 per cent. This means Tigerair will become a subsidiary of SIA.
Earlier this month, SIA had said there are no plans for a full takeover of Tigerair, but it did not rule out the possibility of such a move in the future. SIA already has another low-cost airline subsidiary, Scoot.
SOURCE
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