MANILA, Philippines - Singapore’s Tiger Airways has announced plans to increase its stake in local leisure carrier Southeast Asian Airlines (Seair).
In a disclosure to the Singapore Stock Exchange, the low-cost carrier of Singapore said it would amend the 2011 term sheet to hike Tiger Airways Holdings Ltd.’s stake in Seair from 32.5 percent to 40 percent.
In February last year, Tiger purchased a 32.5-percent stake in Seair for $6 million. The additional 7.5-percent stake is worth $7 million, it said. Full story
