SIA chief rules out offer for full control of Tiger Airways

Singapore

SINGAPORE Airlines (SIA) might want to tame the Tiger, but it does not want the entire animal in the house. During a briefing on Friday, SIA's CEO Goh Choon Phong took pains to put to rest speculation about a complete takeover of the troubled Tiger Airways.

"At this point in time, a takeover offer for Tiger Airways is not under consideration," he said. Instead, SIA wants to focus on how it can help its haemorrhaging associate back to financial health.

Pressed on why SIA is not planning to make a takeover bid for Tiger, Mr Goh did not elaborate, saying: "I have said all that I want to say on that point."

For now, SIA will content itself with increasing its 40 per cent stake in Tiger to about 55 per cent by converting its perpetual convertible capital securities into new shares in the latter. On top of that, SIA's stake in Tiger…