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SIA boosts Scoot's capital by buying $400m of its stock

Published Fri, May 30, 2014 · 10:00 PM

Singapore

SINGAPORE Airlines, Asia's biggest carrier by market value, will spend $400 million buying stock in budget carrier Scoot Pte, boosting the capital of its subsidiary which plans to buy Boeing 787s.

The airline bought 400 million shares in Scoot at $1 apiece, SIA said in a statement to the stock exchange yesterday. The investment will be funded through the company's internal sources, it said.

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Companies & Markets

Companies & Markets

SIA boosts Scoot's capital by buying $400m of its stock

Companies & Markets

Japfa posts US$12.4 million Q1 profit, reversing from year-ago loss of US$43 million

PayPal lifts 2024 profit forecast as spending stays resilient, margins improve

Walmart to shut all health centers in US over lack of profitability

Japan may have spent 5.5 trillion yen on Apr 29 intervention, BOJ data suggests

3M to cut dividend on health-care spin, losing aristocrat status

OCBC should be seen as ‘financial conglomerate’ unlike local banking peers, says chairman

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