Singapore's flagship carrier is all set to take full control of and delist Tiger Airways, completing a months-long takeover process.
The takeover offer, which was launched in November last year, closes on Friday with the national carrier controlling 95.6 percent of Tiger Airways as of February 26.
This level of ownership allows Singapore Airlines to acquire all of Tiger Airways' outstanding shares and delist the company.
"Singapore Airlines would like to thank Tiger Airways shareholders who found our offer compelling. With full ownership of Tiger Airways, we will be able to fully integrate it within the SIA Group, strengthening Tiger Airways' future growth prospects," SIA CEO Goh Choon Phong said, according to Channel News Asia.
After the delisting, the budget carrier will be fully integrated into SIA. Tiger Airways was back in black in the December quarter after losses in three successive quarters.
The privatization of Tiger is supposed to allow SIA to compete better in the fiercely competitive budget market.
