Singapore-based low cost carrier Tiger Airways has acquired 40% of local budget airline operator Southeast Asian Airlines (SEAir), Inc for $7 million.
“The investment in SEAir is in line with our strategy to develop the business into a pan-Asian one, one that will enable us to leverage on the strength of our Singapore base and scale up the size of our business across the region,” Tiger Airways chief executive Chin Yau Seng said.
Chin added that Tiger intends to look for opportunities in the Asia Pacific to further expand its regional reach.
SEAir operates seven aircraft, including two Airbus A319 aircraft leased from Tiger Airways for use in services to Singapore, Hong Kong, Kota Kinabalu and Bangkok.
The Philippine airline will later introduce new routes to the network.
The homegrown low-cost carrier said it will adopt Tiger Airways’s business model, which includes offering attractive fares to international and domestic destinations within a five-hour flying radius from the Philippines.
After the purchase, SEAir will sell seats on its flights through the Tiger website.
Photo from http://flyseair.com/about-seair/corporate-profile/
