Tiger Air Buys 32.5 Pct Stake In SEAIR

February 24, 2011

Bookmark and Share

Singapore's budget carrier Tiger Airways has signed an agreement to buy a 32.5 percent stake in Philippines-based South East Asian Airlines (SEAIR) for USD$6 million, its spokesman said on Thursday.

The deal comes about three months after the Singapore carrier leased two of its Airbus A319 aircraft to SEAIR.

Tiger Airways is 33 percent owned by Singapore Airlines.

(Reuters)