Tiger Airways (Tiger Airways Holdings Limited) on June 4 finalized the sale and purchase agreement to acquire a 40% stake in South East Asian Airlines (SEAir), Inc. This stake will be acquired from existing foreign shareholders at $7 million (US), less liabilities to be confirmed in a due diligence review. The investment will be held through Tiger’s wholly owned subsidiary, Roar Aviation II Pte. Ltd.
The investment in SEAir is Tiger’s second such joint venture in Asia. Tiger acquired a 33% stake in
Mandala Airlines (Jakarta) of Indonesia in January 2012.
SEAir currently operates two Airbus A319 aircraft leased from Tiger Airways under the Tiger Partner Airline
program. In addition, there are plans to expand the fleet to five aircraft within this financial year with the addition of three A320 aircraft.
SEAir will be introducing new routes to its network. The airline will adopt Tiger’s business model. This includes offering attractive fares to international and domestic destinations within a five-hour flying radius from the Philippines.
Copyright Photo: Jay Selman.
SEAir Domestic Route Map:
SEAir International Route Map: