Tiger Airways Holdings was one of the biggest gainers on the Singapore stock market when trading opened for the week on Monday morning after its takeover by Singapore Airlines was cleared for takeoff by the competition watchdog on Friday evening.

Tigerair was trading up 3.5 cents or 11.29 per cent at 34.5 cents as at 10:05am.

SIA's stake in the budget carrier will go up from 44 per cent to 56 per cent, making Tigerair a subsidiary of Singapore's flagship carrier.