Tiger Airways

Tiger Airways: OCBC remains cautious despite yesterday's encouraging results. House believes the longer-term success of Tigerair hinges on driving growth and managing costs through the alliance with Scoot as well as Singapore Airlines. However, one profitable quarter does not guarantee the success of its turnaround strategy. House prefers to wait and see if these improvements can be sustained. OCBC maintains SELL, but raised TP to $0.23 (from $0.18).