Singapore’s Tiger Airways plans to raise up to $273 million in an IPO this month, braving a still struggling air market in the first listing of an Asian airline in almost five years.
Tiger’s IPO, downsized from an earlier estimated figure of around US$300-US350 million ($419-$489 million), comes amid concerns about the health of the global airline industry, which has been battered by falling travel and cargo demand, and a rally in fuel prices.