Shares of Singapore budget carrier Tiger Airways (TAHL.SI) rose as much as 3.3% on Tuesday after its CEO said he expects the company’s Australian unit to operate more aircraft next year and the firm’s partnerships in the region are making progress.
In August, Australia’s aviation watchdog lifted its more than five-week flight ban on Tiger Airways over safety concerns, but imposed flight restrictions on the Singapore carrier.
In August, Australia’s aviation watchdog lifted its more than five-week flight ban on Tiger Airways over safety concerns, but imposed flight restrictions on the Singapore carrier.
“It seems that the worst is behind for Tiger. As long as they can maintain flights, there’s always hope they can do better,” a local trader said.
At 9:12 a.m., Tiger shares were up 3.3% at $0.635, outperforming the broader Straits Times Index <.FTSTI> which was 0.05% higher.
Tiger Airways CEO Chin Yau Seng said he expects the carrier to operate 10 aircraft in Australia by the middle of next year, up from seven aircraft currently, the Straits Times reported.
Tiger Airways has also made progress in its partnerships with airlines in Indonesia and the Philippines, Chin said.
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