SIA denies Tigerair full takeover

Singapore Airlines (SIA) has denied it has plans to takeover Tigerair in full in the short-term but it has not ruled doing so in the future. SIA owns 40% of Tigerair and is providing the airline with a capital injection of S$140 million via a subscription to Tigerair’s rights issues and converting perpetual convertible capital securities (PCCS) into ordinary shares of Tigerair. SIA’s stake will increase to 55% if the deal is approved by the Competition Commission of Singapore (CCS) and SIA will gain control of the airline. If that happens, said Goh Choon Phong, Chief Executive of Singapore Airlines,