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