A PYMNTS Company

Australia: ACCC resets deadline for Virgin, Tiger merger

By  |  April 16, 2013

A new deadline of April 24 has been set by the Australian Competition and Consumer commission to decide on the proposed acquisition of 60 percent of Tiger Australia by Virgin Australia. According to reports, the largest issue of the detail is that the acquisition would allow Virgin Australia to have another low-cost airliner within the country similar to Qantas’s acquisition of Jetstar, branded as Virgin Blue. The deal, however, would save Tiger Australia as the Singapore-based airline is facing financial issues that are reported as “unsustainable.” The original deadline to decide on the deal was March 18.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Crikey

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.