Low-cost carrier becomes 100 percent Taiwanese
Taiwan News
Date: 2016/12/14
By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – China Airlines is taking complete control over Tigerair Taiwan by buying the 10
(By Central News Agency)
percent of shares in the low-cost carrier it didn’t already have, according to a board decision Wednesday.
The company’s only main low-cost rival in Taiwan, V Air, stopped flying in September before its parent, TransAsia Airways, decided to cease operations altogether.
CAL formed Tigerair Taiwan in December 2013 as a three-way joint venture, with itself holding 80 percent of shares, its affiliate Mandarin Airlines 10 percent, and Tiger Airways Holdings the remaining 10 percent.
The CAL board said Wednesday that it had reached an agreement with Tiger Airways Holdings to buy its share, and that both sides were satisfied with the transaction. The takeover would produce improved results and a more optimal usage of resources, CAL said. [FULL STORY]
