It has also re-negotitated the brand franchise agreement with Tigerair Taiwan.
Tiger Airways Holdings Ltd.'s wholly-owned subsidiary Roar Aviation III Pte. Ltd has shold its 10% stake in Tigerair Taiwan to China Airlines Ltd.
Tigerair said as part of the divesment plan, Tigerair Taiwan will cease the use of its website as sales and distribution platform within 12 months of the divestment.
CEO of Budget Aviation Holdings Lee Lik Hsin said the divestment follows a recent announcement by BAH of its intention to operate Tigerair and Scoot under a common 'Scoot' brand and a common operating license by the second half of 2017.
“Notwithstanding the divestment of Tigerair Taiwan, we will maintain an active presence in Taiwan with the combined network of Scoot and Tigerair,” Lee noted.
Tigerair has also re-negotitated the brand franchise agreement with Tigerair Taiwan, and also separately re-negotiated the brand franchise agreement with Tigerair Australia.
The divestment is expected to conclude by 1Q17.
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