Tiger Air: +2.2% at $1.83, bouncing off $1.80 support. We highlighted previously that Morgan Stanley tips $1.80 as a level to accumulate.
Budget carrier to launch new flights to 4 new destinations and increase flight frequencies to existing destinations from this weekend. Total weekly flights to rise by ~20%, from over 300 flights now, during the period from Nov ‘10 to Mar ‘11. The 4 new destinations include Manila, Trichy, Trivandrum and Taipei…
Tiger Air in Australia, will also introduce of new services from Avalon Airport in Victoria to Gold Coast, Alice Springs, Sydney, Adelaide, Mackay, Rockhampton and Perth starting on Nov 10, and services between Sydney and Brisbane starting on Feb 7
Boost in flights to come as Tiger takes scheduled delivery of another 8 aircraft from now till end FYMar11. Expect Tiger’s FY earnings to be back end loaded.