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Nov

05

Singapore Air Offers $322 Million to Take Tiger Air Private

By Tony Seruga

Tiger Airways In Singapore

A Tiger Airways airplane takes off from Changi Airport in Singapore.

Photographer: Munshi Ahmed/Bloomberg

Carrier will pay 41 Singapore cents for every Tiger share
Singapore Air also planning more direct flights to U.S.

Singapore Airlines Ltd. offered to pay S$453 million ($322 million) for the shares it doesn’t own in Tiger Airways Holdings Ltd., the money-losing low-cost unit it listed less than six years ago, saying it wants to enhance operations across the group’s network.

Southeast Asia’s largest carrier, which owns 55.8 percent of Tiger Airways, said Friday it plans to pay S$0.41 in cash for each share. While that’s 32 percent higher than Thursday’s close, it’s not even one-third of the S$1.50 share price in Tiger Airways’s initial public offering in January 2010…

Singapore Air Offers $322 Million to Take Tiger Air Private

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