Tigerair to be fully owned by Virgin Australia Virgin Australia has just revealed plans to acquire the remaining 40% stake of no-frills offshoot Tigerair Australia from Singapore-based Tigerair Holdings for AU$1. The proposed deal will see Virgin Australia take over full ownership and control of the low-cost carrier, bringing to a conclusion its joint venture with Tiger Holdings. Virgin Australia ceo John Borghetti said the transaction makes an important milestone for Tigerair Australia and forms part of the Virgin Australia Groups Vision strategy to 2017. Borghetti also revealed the deal would see growth for Tigerair likely scaled back due to ongoing subdued consumer demand in the Australian domestic market.
Posted on: Fri, 17 Oct 2014 01:32:46 +0000
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