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Philippines: Airline snags local Tiger unit for $15M

By  |  January 8, 2014

Philippines-based airline Cebu Air announced the acquisition of local operations of Tiger Airways, based in Singapore, in a total buyout made for $15 million.

Reports say Cebu Pacific first announced the deal in a teleconference this week. The transaction includes the acquisition of 40 percent of the company in addition to the 60 percent currently owned by TigerAir Philippines executives.

The merger comes just days after TigerAir Singapore and Cebu Pacific announced a joint venture to take over Tiger Airways and expand throughout Asia, Australia, India and the Middle East, according to the parties.

Full Content: PhilStar

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