Singapore Airlines plans to convert its perpetual convertible capital securities into Tiger Airways shares, a move that will increase Singapore Airlines’ stake to 55% from 40%, Tiger Airways said in a statement on Friday.
ingapore Airlines progressively increased its stake in Tiger Air over the last few years, and making it a subsidiary could improve cooperation with Scoot Pte. Scoot, which is Singapore Airlines’ long-haul budget unit, is already working with Tiger to jointly sell tickets and offer connections on each other’s flights as Singapore Airlines seeks to increase its presence in the lucrative discount air travel business. Full story
