Tiger Airways: DMG maintains Neutral with TP $1.40. Note that Thai Airways has announced that it will be setting up its own budget airline - Thai Wings - to compete with AirAsia, which is a negative development for Thai Tiger (a JV between Thai Airways and Tiger Airways) as it has been delayed for mths, awaiting for an approval by the Ministry of Transportation……
Also, Tiger's CEO has just sold 1m shares at S$1.42, paring down his stake from 0.75% to 0.57%. In the low cost space, prefer AirAsia with a TP of RM3.89, pegged to 12x FY11F earnings.
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