Virgin Australia welcomes Singapore Airlines as investor, agrees to Tiger JV, Skywest buy

Tue, 30 Oct 2012

Oct. 30 (BusinessDesk) - Virgin Australia, which competes with Qantas Airways in the Australian aviation market, will place 10 percent of its shares with Singapore Airlines for A$105 million, using most of the funds to buy a 60 percent stake in Tiger Airways and all of Skywest Airlines. The deals will lift Virgin Australia’s fleet to 139 from 108 and add 10 new destinations in Western Australia and allow the airline to re-enter the budget leisure market with Tiger. The transactions will strengthen the airline as it battles Qantas at home and...

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