Tiger Air: Thai Airways Chairman says it may not pursue a deal to establish a new low-cost carrier JV with Tiger. "I can't speak for the board as the decision rests with them. But as far as I'm concerned, our prime focus now is on the formation of Thai Wing as well as on our existing budget carrier affiliate Nok Air" Ampon told DJ Newswires.
Ampon’s comments are not unexpected, and give credence to earlier speculation that the Thai Tiger JV will not go through, following repeated delays in progress on the deal.
Still, this means that Tiger has one less avenue for growth.
Technically, the stock is back to under $1, and just shy of its all time low of $0.985. Both the long term trend and technical indicators look weak, and portend further downside ahead. Fibo support at $0.86 (0.382 * all time high of $2.25).
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