Tiger Airways buys 32.5% stake in SEAIR
Tiger Airways has agreed a deal to purchase a 32.5% stake in its Philippines-based partner airline, SEAIR. While the details of the deal are yet to be finalised, SEAIR’s President & CEO, Avelino Zapanta, said that having Tiger Airways as a shareholder “will enable us to significantly expand our network of services”. SEAIR, which like Tiger Airways operates a low-cost model, recently launched its first international services, connecting Clark with Singapore and more recently, Hong Kong.
The partnership with SEAIR will be intended to head-off competition from Tiger’s low-cost rival, AirAsia, which has also announced plans to enter the Philippine market later this year. Currently Cebu Pacific, Asia Pacific’s third largest LCC, dominates the Philippines’ budget air segment.
“The Philippines represents a major market opportunity for low cost airlines,” explained Tony Davis, President & Group CEO of Tiger Airways Holdings. “With more than 7,000 islands, a population in excess of 90 million, plus another 11 million working and living abroad, the Philippines is an important market for both international and domestic aviation,” Davis said.
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