SINGAPORE — A new holding company established by Singapore Airlines (SIA) has been set up to manage its two budget airlines, Scoot and Tiger Airways, announced the carrier today.

Budget Aviation Holdings will allow the two carriers to share functions such as sales, marketing, IT, planning and operations, said the statement.

The company will be led by Lee Lik Hsin, who was previously the CEO of Tigerair, a post he has held since May 2014.

Campbell Wilson, who served as Scoot’s CEO since prior to the commencement of its operations in 2012, will be returning to SIA in a senior position, the statement said.

Last November, SIA launched a takeover bid to delist and take full ownership of Tigerair. The process was completed in March. — TODAY