8-Jul-2013 1:11 PM

Tigerair completes sale of 60% of Tigerair Australia to Virgin Australia

Tiger Airways Holdings Limited and Virgin Australia Holdings Limited stated (08-Jul-2013) the acquisition by Virgin Australia of 60% of Tigerair Australia is complete. Tigerair CEO Koay Peng Yen said: “We can now look forward to a new beginning for our operations in Australia. We are confident that our partnership with Virgin Australia will yield a stronger Tigerair Australia.” Virgin Australia CEO John Borghetti said: “The acquisition of 60% of Tigerair Australia enables Virgin Australia to re-enter the budget travel market segment". Tigerair Australia CEO Rob Sharp added: “We are now well placed to build on the foundations of Tigerair Australia, ensuring it has the right scale to compete effectively. Our aim is for Tigerair Australia to become a sustainable and respected budget carrier in Australia”. Mr Borghetti will be appointed as chairman of Tigerair Australia and Wendy Cheah will be appointed as CFO. [more - original PR]