Virgin Australia acquires 60% stake in Tiger Airways

The two teamed up to invest a further AUD62.5 million to revive Tiger Australia.

Virgin Australia Holdings Limited (Virgin Australia) today announced that it has entered into a Share Purchase Agreement (SPA) to acquire 60% of the existing shares in Tiger Airways Australia Pty Limited (Tiger Australia) from Tiger Airways Holdings Limited (Tiger Airways) for AUD35 million.

In addition, Tiger Australia has agreed to make a payment of AUD5 million to Tiger Airways, if Tiger Australia achieves certain financial performance targets within five years.

Tiger Airways and Virgin Australia have committed to invest up to a further AUD62.5 million collectively into the business to fund growth in Tiger Australia. The joint venture has flexibility to grow Tiger Australia’s fleet from 11 to up to 35 aircraft by 2018.

The transaction is subject to conditions and regulatory approvals, including ACCC clearance and FIRB approval. As part of the transaction, Virgin Australia and Tiger Airways propose to enter into a Shareholders Agreement, Brand Licensing Agreement and Services Agreement.

Virgin Australia Chief Executive Officer John Borghetti said: “This transaction enables Virgin Australia to access the budget market and enables Tiger Australia to expedite its growth, providing greater competition to this important market segment.

“By partnering with Tiger Airways, we can use our expertise to leverage Tiger Australia’s competitive cost base and build a sustainable budget carrier. We are committed to maintaining the Tiger Australia business model and brand, and we look forward to collaborating with Tiger Airways as the business grows”, Mr Borghetti said.

Tiger Airways Group Chief Executive Officer Koay Peng Yen said: “This is a significant step forward for us. The joint venture will bring about a stronger and more competitive Tiger Australia, and allow us to deploy more capacity and attractive budget offerings to our customers.

“We are committed to growing Tiger Australia’s fleet, network and flight frequencies, and expanding to more destinations in Australia”, Mr Koay said.

Follow the link for more news on

Tiger Airways

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

30 One-Sentence Stories From People Who Have Built Better Habits

None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.

news conversion

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

SBR 4 Lorem Ipsum [8 May Top Stories]