Shares of Singapore’s Tiger Airways Holdings rose as much as 6.4% on Tuesday after the budget carrier said its Indonesian joint venture airline will resume flying from April 2012, reported Reuters.
By 9:23 a.m., Tiger shares were up 5.1% at $0.82, outperforming the broader Straits Times Index which was 0.2% higher.
By 9:23 a.m., Tiger shares were up 5.1% at $0.82, outperforming the broader Straits Times Index which was 0.2% higher.
Tiger Airways said on Tuesday that the Indonesian Director General of Air Communications had reactivated the air operator’s certificate of Indonesia’s PT Mandala Airlines, in which Tiger has a 33% investment.
"Information regarding the number of aircraft, the initial routes and destinations for Mandala will be announced soon. The resumption of flights is scheduled for April 2012," Tiger said in a statement.
Mandala’s certificate had been frozen since the suspension of its operations in January 2011.
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