Airlines

Airlines: competing budget carrier Jetstar Airways, the low-cost airline unit of Qantas, said today it will invest US$500m in its Spore operations and add 7 additional Airbus aircraft to its hub there by the end of the year.
The new aircraft comprise 5 Airbus A320s and 2 Airbus A330s.
The carrier said it will also add 40 extra weekly flights by the end of the year, including new flights to Ningbo, Beijing and Hanoi. Extra flights to Taipei, HK, KL, Ho Chi Minh City, and Jakarta will also be added.
By the end of this year, Jetstar is expected to operate >3k flights per week to more than 60 destinations, across 17 countries with a fleet of 86 aircraft.

This spells more competition for local budget carrier Tiger Air, whose Australian operations were grounded this month. Tiger’s remaining operations are in Spore, though it is currently eyeing expansion into Indonesia, Philippines and Thailand. Tiger currently has a fleet of 26 aircraft (16 in Spore, 10 in Australia), with plans to expand to 35 by FYMar12.
Tiger +0.5% at $1.015, still hovering above the $1 psychological support level. Volume has been normalizing since the huge volume spike / gap down at the start of July, suggesting the selling pressure may be easing.