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Revised Offer from Tiger Airways to Purchase Stake in Philippines Based SEAir

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16-Apr-2012 Revised Offer from Tiger Airways to Purchase Stake in Philippines Based SEAir

Tiger Airways Holdings Limited ("Tiger Airways") plans to purchase a 40% stake in South East Asian Airlines (SEAIR), Inc. ("SEAIR") for US$7M

Tiger Airways today announced the signing of a revised Term Sheet for Tiger Airways to purchase a 40% stake in SEAIR from existing foreign investors for US$7 million.

The revised Term Sheet is to replace the first Term Sheet that was signed on 24 February 2011.

The parties will now proceed to finalise the definitive sale and purchase agreement for the stake.