Virgin Australia Take Control of TigerAir
20th Jul 2013
A few days after Tiger Airways officially changed its name to Tigerair, Virgin Australia announced that it has completed early last week its acquisition of the low-cost carrier's Australian subsidiary to the tune of AU$35.
The purchase was highly anticipated since last year when Virgin Australia proposed to buy more than 50% stake in the Tiger Airways Australia in October 2012.
The recent completion of a 60% purchase on the Tigerair Australia has given Virgin Australia majority control of the low-cost airline's operations.
The former Tiger Airways recently officially renamed itself into Tigerair, giving way to the new era of the low-cost airline's aggressive expansion programs in the region. Aside from the new name, the Singapore-based budget airline also unveiled its new corporate logo and a fresh livery on all its aircraft operating under its wings.
The unveiling of the new name came ahead of the official announcement of Virgin Australia's 60% purchase of its Australian subsidiary.
The new logo reflects Tigerair's strong personality evoking passion and warmth as well as genuine care for its customers.
With its majority stake in Tigerair Australia, Virgin Australia appointed John Borghetti as the new chairman while Wendy Cheah will serve as its new Chief Financial Officer. John Borghetti is concurrently the Chief Executive of Virgin Australia.
Rob Sharp, meanwhile, will remain the airline's Chief Executive Officer.
The budget airline, according to its CEO, will become more effective in its effort to pursue its expansion program in order to compete strongly against its rivals.