Virgin-Tiger decision pushed back

Virgin-Tiger decision pushed back
By admin


Virgin Australia and Tiger Airways will have to wait an additional week to learn if their proposed joint venture can proceed, as the competition regulator postponed the date of its decision.

Virgin's October proposal to buy 60% of Tiger Airways Australia for $35 million is still pending approval with a decision originally scheduled for January 31.

However, the Australian Competition and Consumer Commission (ACCC) said it had received "further information" from the merger parties which has prompted it to delay the decision date to February 7.

Virgin’s acquisition of the stake in Tiger Australia will see both carriers invest $62.5m collectively into the business to fund growth. The joint venture has the flexibility to expand Tiger’s fleet from 11 to 35 aircraft by 2018, according to a statement.

But earlier this month, ACCC chairman Rod Sims told ABC Radio that the regulator faces a "very complex question" over the deal which would put Virgin in a better position to challenge Jetstar, but would take out a third player in the market.

Meanwhile, the decision regarding Virgin's acquisition of regional carrier Skywest is expected to proceed as planned on January 31.

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