Shares of Singapore budget carrier Tiger Airways (TAHL.SI) rose as much as 4.1% on Friday after a broker said it expects a decision allowing the firm to resume flying in Australia could come as early as next week, traders said.
At 10:44 a.m., Tiger shares were up 2.7% at $1.13 on a volume of 14.5 million shares, around three times the average daily volume so far this year.
At 10:44 a.m., Tiger shares were up 2.7% at $1.13 on a volume of 14.5 million shares, around three times the average daily volume so far this year.
Morgan Stanley said in a report that Australia’s Civil Aviation Safety Authority may allow Tiger Australia to resume flying soon instead of extending the suspension beyond Aug 1 and a “positive” decision could come as early as next week.
"We estimate that there is about a 70% to 80% or “very likely” probability for the scenario," Morgan Stanley said.
Tiger said in a statement that the Australian court hearing over the grounding of its fleet will now take place on July 28 after both parties requested adjournment from the previous schedule this Friday.
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