Tiger up 3.4%; Australia restrictions lifted

Tiger Airways is up 3.4% to $0.76 after news Australian regulators lifted all restrictions on its operations in the country. “This news is positive for Tiger Airways and would allow the company to maximise its aircraft utilisation and lower unit fixed costs without restrictions from the regulators,” Phillip Securities says in a note. But it adds, “we maintain our view that the stock's valuation is unattractive and expect poor earnings report to bring valuations down to more realistic levels.”