Reuters: Global Markets: Tiger Airways shares up after Virgin deal, Q2 loss narrows

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Tiger Airways shares up after Virgin deal, Q2 loss narrows Oct 30th 2012, 03:21 Tweet Share this Email Print Related News ADM swoops on Australia's GrainCorp in Asian push Fri, Oct 19 2012 Related Topics Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Hot Stocks » Asian Markets » Inflows Outflows » Aerospace & Defense » A Tiger Airways sign is seen at its terminal in Melbourne Airport July 7, 2011. Credit: Reuters/Mick Tsikas SINGAPORE | Mon Oct 29, 2012 11:21pm EDT SINGAPORE (Reuters) - Shares of Tiger Airways Holdings Ltd (TAHL.SI) rose when trading resumed on Tuesday, after Virgin Australia Holdings Ltd (VAH.AX) said it will buy 60 percent of the Singapore budget carrier's Australian unit for A$35 million ($36.2 million). Tiger shares were up 2 percent at S$0.75 after a trading halt was lifted in Singapore. Virgin, Australia's No.2 carrier, will buy 60 percent of Tiger Australia and invest a further A$62.5 million to increase the fleet size to 35 aircraft from 11 by 2018. "The move will allow Tiger Airways to dispose a substantial chunk of the loss making entity whilst allowing it to retain a presence in Australia," OCBC Investment Research said in a report. Singapore Airlines Ltd (SIAL.SI), which owns 33 percent of Tiger, also announced it will buy a 10 percent stake in Virgin Australia for A$105 million. Separately, Tiger reported second-quarter net loss of S$18.3 million ($15 million), narrowing from a net loss of S$49.9 million a year earlier. (Reporting by Eveline Danubrata) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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