Tiger Airways: UBS: maintains Sell, TP $0.58. Note that Tiger still a fragile business. Expect Tiger Aus to remain loss-making.
Other areas face overcapacity risk and estimate that proceeds from a rights issue ($155m) and the sale and leaseback of 2 aircraft ($90m) in 3Q12 will help Tiger Airways overcome the short term funding gap. However, the FY13 outlook will depend on its ability to return to positive operating cash flow in the next six mths.
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