Tiger Air: agreed with Airbus to advance the deliveries of 2 aircraft originally scheduled for 2015-16 to next year. Recall Tiger currently has 21 planes, and additional deliveries will expand the fleet to 26 aircraft by Mar ‘11, and to 68 aircraft by Dec ‘15. Positive read through, as this will allow Tiger to accelerate its already rapid expansion plans...
Separately, the budget carrier has also secured financing for the 15% down payment for each of its 14 new Airbus A320 aircraft to be delivered by March '13, which should alleviate financing concerns. The structured PDP financing arrangement is SGD-denominated, to mitigate currency risk…
Tiger reports 2QFyMar11 results on 2 Nov after mkt close. Stock now hovering around $1.79-1.80 support, which Morgan Stanley tips as accumulation level. However if a break down occurs, stock may test next support at $1.70.
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