TIGER RISES ON PARTNERSHIP WITH SIA'S SCOOT
Image : Sydney Morning Herald.
Shares of Tiger Airways Holdings Ltd rose more than 3 percent after the budget carrier signed a partnership agreement with the low-cost unit of Singapore Airlines Ltd to offer joint itineraries from Oct. 2.
Tiger shares rose as high as S$0.785, the strongest level since March 20. More than 7.2 million Tiger shares were traded, 2.6 times the average full-day volume over the past 30 days. SIA shares were up 0.5 percent at S$10.76.
Some analysts had called Tiger a turnaround play, citing the carrier's improving operations after some of its flights were grounded in Australia due to safety issues.
"We view the news positively as this will increase traffic flow to Tiger Airways," said DMG & Partners Securities, which has a 'neutral' rating and S$0.76 target price on the stock.
02/10/2012 : Eveline Danubrata / Reuters.
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