China Airlines acquires Tiger Airways' 10% stake in Tigerair Taiwan

China Airlines board approved (14-Dec-2016) plans and entered into an agreement with Roar Aviation III Pte Ltd, a wholly-owned subsidiary of Tiger Airways Holdings, to acquire its 10% stake in Tigerair Taiwan. As part of the agreement, Tigerair Taiwan will cease to use the Tigerair website as its sales and distribution platform, within 12 months of the divestment. The divestment by Roar Aviation is expected to be concluded by 1Q2017 and will not have any material financial impact on the consolidated net tangible assets or earnings per share of the Singapore Airlines group of companies for the financial year ending 31-Mar-2017. Along with the divestment, Tigerair has re-negotiated the brand franchise agreement with Tigerair Taiwan, and also separately re-negotiated the brand franchise agreement with Tigerair Australia. Budget Aviation Holdings, which owns and manages Tigerair and Scoot, CEO Lee Lik Hsin commented: "Notwithstanding the divestment of Tigerair Taiwan, we will maintain an active presence in Taiwan with the combined network of Scoot and Tigerair." [more - original PR - China Airlines][more - original PR - Tigerair]