Virgin seals $1 buy-out of Tigerair

Virgin seals $1 buy-out of Tigerair

Virgin Australia Holdings has completed its acquisition of the remaining 40% of Tiger Airways Australia, making it the full owner of the airline.

“We remain focussed on maintaining Tigerair Australia’s low cost business model and a separate brand whilst ensuring there is a viable low cost alternative in the market for consumers,” Virgin Australia chief financial officer, Sankar Narayan said.

As part of the acquisition, Virgin has secured the brand rights to fly Tigerair Australia to a number of short-haul international destinations as earmarked during the buy-out of the remaining shares, which the airline purchased for $1.

“The completion of this acquisition marks the next phase of Tigerair Australia’s evolution into the Australian market and represents an important step in its pathway to sustainable profitability,” Narayan said.

Virgin today posted a $55.3 million pre-tax profit in the second quarter of the current financial year.

Latest News

  • Destinations

Half price winter wamers at Sydney’s luxury lodges at  Calabash Bay and Crane

Wild Luxury has released its off-peak rates for winter, with stays at Calabash Bay Lodge and Crane Lodge discounted by almost half price for a limited time. Nightly rates at Wild Luxury’s Palm Beach eco retreat, Crane Lodge, are reduced to $1144 for a seven-night stay (48% off the $2200 nightly regular rack rate) or $1760 per […]

  • Conferences
  • Hotels

Iconic Sofitel Sydney Wentworth showcases conferencing and events ahead of spring opening

Sofitel Sydney Wentworth is showcasing its venue for conferencing and events that will feature as part of the iconic venue’s highly anticipated $60 million relaunch this in September. Among the offerings at the Phillip and Bligh Street precinct are contemporary meeting rooms, more than 15 event and conference spaces and the famous Wentworth Ballroom, where […]

  • Aviation

Board Air Canada in Sydney’s CBD via a sleek Light Rail

Visitors flocking to Vivid Sydney will glide through the CBD in the newest addition to the Air Canada fleet – a sleek Light Rail tram wrapped in the airline’s unique livery. The Air Canada-themed tram is part of a new marketing campaign designed to put Air Canada in lights during the Vivid Sydney festival (25 […]

  • Cruise
  • News

Carnival Splendor to the rescue of Aussies and Kiwis left stranded in Vanuatu

Carnival Cruise Line’s Carnival Splendor has come to the aid of a group left stranded in Vanuatu, following the collapse of Air Vanuatu. The group, eight Australians and one New Zealander, were visiting the island of Santo when Air Vanuatu cancelled all flights, leaving them without a way home. Carnival Cruise Line responded by offering […]

  • Hotels

QT Singapore set to open in heritage Eastern Extension Telegraph building

Bookings open today for QT Singapore, in the historic former Eastern Extension Telegraph building along Robinson Road, the first property from QT Hotels & Resorts to open outside Australian and New Zealand. Previously Accor’s So Singapore, then the Hotel Telegraph, QT Singapore will officially launch on September 16 and will feature 134 rooms, ranging in […]