Friday, July 29, 2011

Tiger Air

Tiger Air: will be in focus after it says its Australian unit will refund passengers booked to fly between 1-4 Aug, a move that indicates the carrier may not be able to resume flights before then. Regulators had earlier grounded Tiger's Australia fleet till 1 Aug due to safety concerns.

Thursday, Tiger received formal conditions from Australia's Civil Aviation Safety Authority (CASA) that must be met before it can restart domestic flights. Tiger says it is confident that it can comply with these conditions and expects to “resume services in the near future”.
Adds, “a further announcement, concerning flights scheduled to operate from 5 Aug 2011 and the re-commencement of sales, will be made at the appropriate time”.

Shares initially dropped 16% on the suspension, but have since recovered and closed Thursday +0.8% at $1.235.

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