SINGAPORE: Tiger Airways Ltd is replacing its chief executive officer with a Singapore Airlines Ltd (SIA) board member, in a sign that its largest shareholder will wield greater influence at the troubled budget carrier.
Yesterday’s move comes less than a week after Tiger Air reported losses ballooned in its last financial year and as SIA, which owns 40% of Tiger Air, pushes a strategy of expanding its exposure to the fast-growing Asia-Pacific market and the low-cost segment.
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