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Singapore Airlines rides to Tiger's rescue, could raise stake to 71 percent

2014-10-17 08:54:08| Airlines - Topix.net

Cash-rich Singapore Airlines Ltd is injecting up to $110 million to take control of loss-making affiliate Tiger Airways Ltd, shoring up the budget carrier while scrapping its regional ambitions as competition rages. Announcing a record quarterly loss that sent its shares tumbling as much as 10 percent, Tiger said on Friday that SIA will raise its stake to about 55 percent from 40 percent by converting existing securities into shares.

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