DBS Vickers Securities in an Aug 19 research report says: “Tiger Airways reported that two of its substantial shareholders – private equity firm Indigo Partners and the Ryan family (Ryanasia) – along with CEO Tony Davis, had sold part of their stakes in the Company to a broad base of institutional investors.
Posts Tagged ‘Tiger’
Thai Air says Tiger share sale won’t affect alliance plan
August 20th, 2010 |
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Thai Airways International Plc said plans for a budget airline alliance with Singapore’s Tiger Airways won’t be affected by news that two big Tiger shareholders and its chief executive sold discounted shares in the budget carrier.
Tiger said this week that substantial shareholders Indigo Singapore Partners and Ryanasia, along with chief executive Tony Davis, sold 65.796 million Tiger shares at a discounted price of $1.90 in a transaction worth about $125 million.
Tiger Airways target lowered to $2.13 by DMG
August 20th, 2010 |
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DMG cuts Target Airways (J7X.SG) target price to $2.13 from $2.45 after lowering P/E multiple to 16.5x from 18.0x FY11 earnings to account for negative sentiment arising from carrier’s pilot shortage, according to Dow Jones.
DMG notes 20 of its pilots poached by other airlines since June, causing it to cancel 10 flights over past four days.
Lowers FY11-12 EPS estimates by 3.7%-3.0% to reflect higher staff costs associated with aggressive hiring.
Still, keeps Buy call on view fundamentals remain sound. Shares off 0.5% at $1.91.
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Thai Airways reviewing Tiger alliance after share sale
August 19th, 2010 |
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Thai Airways International Plc said on Thursday it was reviewing plans for a budget airline alliance with Singapore’s Tiger Airways after two big Tiger shareholders and its chief executive sold discounted shares in the budget carrier.
Tiger said substantial shareholders Indigo Singapore Partners and Ryanasia, along with chief executive Tony Davis, sold 65.796 million Tiger shares at a discounted price of $1.90 in a transaction worth about $125 million.
Tiger Airways cancels flights on pilot shortage, press reports
August 19th, 2010 |
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Tiger Airways Holdings canceled at least 10 flights in the four days to Aug. 18 because of a shortage of pilots, the Straits Times reported, without citing anyone. More than 20 Tiger Air pilots have resigned since June and the airline has tapped Indonesia’s Mandala Airlines for temporary help, the newspaper said.
Tiger Air declines after CEO, shareholders sell stock
August 19th, 2010 |
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Tiger Airways Holdings, the discount carrier part-owned by Singapore Airlines, fell in Singapore trading after shareholders including Chief Executive Officer Tony Davis sold stock at a discount.
Tiger Air dropped as much as 3.5% and traded down 3% at $1.92 as of 10:37 a.m. in the city. Davis, Indigo Singapore Partners LP and Ryanasia sold about 65.8 million shares priced at $1.90 apiece to a “broad base of institutional investors” via a placement, the carrier said in a statement to the stock exchange today. The statement didn’t say how much each shareholder sold.
Tiger Airways off 3%; Stock overvalued: Macquarie
August 19th, 2010 |
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Tiger Airways (J7X.SG) most active stock in Singapore market, off 3% at $1.92 on over 70.5 million shares, dragged down by two block trades related to placement exercise involving substantial shareholders Indigo Singapore, Ryanasia and CEO Tony Davis. All three parties sold total of 65.8 million shares, or 12.3% of company, via placement to institutional investors at $1.90 each, according to Dow Jones.
“(We) see the sell-down (by the vendors) as a sign that, at current valuations, the share price may be over valued,” says Macquarie; downgrades stock to Underperform from Neutral, cuts target to $1.71 from $2.10, based on 10.5x FY11 EV/EBITDAR. Immediate support at placement price.
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Tiger Airways Holdings – Corporate moves
August 19th, 2010 |
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Chang Long Wee has been appointed non-ED wef July 30
Work experience: Divisional VP, engineering services, Singapore Airlines; VP, engineering divisional services, Singapore Airlines
Tiger Air says substantial shareholders sell shares
August 19th, 2010 |
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Tiger Airways Holdings, the discount carrier part-owned by Singapore Airlines, said Chief Executive Officer Tony Davis and two of its substantial shareholders sold the company’s stock. About 65.8 million shares priced at $1.90 apiece were sold to a “broad base of institutional investors” via a placement, the company said in a statement to the Singapore stock exchange. Tiger Air said it did not participate in the placement.
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Aug 11: Banyan Tree, Cosco, Sembcorp, Tiger Air
August 11th, 2010 |
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The following companies may have unusual price changes in Singapore trading today. Share prices are from the previous close. Singapore’s Straits Times Index dropped 0.4% to 2,984.29.
Palm-oil suppliers: Crude palm oil for October delivery dropped 2.2% yesterday in Kuala Lumpur. Indofood Agri Resources (IFAR SP), a unit of Indonesia’s biggest noodle maker, decreased 1.6% to $2.50. Wilmar International (WIL SP), the world’s largest palm-oil trader, lost 0.5% to $6.42.
Tiger Air reports 42% rise in passengers for July
August 10th, 2010 |
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Tiger Airways says it reported strong passenger volumes and load factors in July 2010. The number of passengers in July grew 42% over last year to 523,000. The average load factor across both airlines in Asia and Australia for the month was up 4 percentage points to 89%.
From August 2009 to July 2010, a total of 5.4 million passengers flew with Tiger Airways, an increase of 51% over the 3.6 million passengers who booked in the preceding 12 months.
Tiger Airways Holdings downgraded to hold
August 10th, 2010 |
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DBS Vickers Securities in an Aug 6 research report says: “In what is traditionally the weakest quarter of the year, Tiger Airways reported a net profit of S$1.9m, and even after stripping out a forex loss of $6.3 million – the core net profit of $8.2 million fell short of our expectations.
Tiger Airways cut to Hold by DBS Vickers; $2.00 target
August 6th, 2010 |
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DBS Vickers downgrades Tiger Airways (J7X.SG) to Hold from Buy, cuts target price to $2.00 from $2.25, according to Dow Jones.
Changes follow cuts in fiscal FY11 EPS estimate by 15% to account for lower-than-expected 1Q11 results, FY12 estimate by 11% to reflect start-up losses from recent JV with Thai Airways (THAI.TH) to start budget carrier.
DBS Vickers says $1.9 million 1Q 2011 net profit fell short due to lower fares, reduced loads in Thailand. Suggests switching to major shareholder Singapore Airlines (C6L.SG) for sustainable earnings recovery, cheaper valuations. Shares down 8.0% at $2.06.
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Tiger cut to Neutral vs Outperform by Macquarie
August 6th, 2010 |
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Macquarie cuts Tiger Airways (J7X.SG) to Neutral from Outperform, keeps target at $2.10 after budget carrier announces new low fare airline with Thai Airways (THAI.TH).
Macquarie says: “We see the establishment of the third cub as a positive long-term strategic move for Tiger,” though it will boost company’s gearing.
Tiger Airways off 6.7%; 2Q results dismal: UOB
August 6th, 2010 |
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Tiger Airways (J7X.SG) down 6.7% at $2.09 following what some analysts call dismal June-quarter results, says Dow Jones.
Low-cost carrier returned to black with $1.9 million profit in fiscal 1Q11 vs $6.0 million loss year earlier on increased travel demand, tax benefit.
But earnings sharply lower than March-quarter’s $22.3 million profit on higher operating expenses, lower ticket prices.
Tiger Air has record fall as forex loss hurts profit
August 6th, 2010 |
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Tiger Airways Holdings, the discount carrier part-owned by Singapore Airlines, slumped by a record after foreign exchange losses damped profit in the first quarter.
The company fell as much as 7.1% to $2.08 and changed hands at $2.13 at 9:03 a.m. on the Singapore stock exchange. The stock had jumped 4.7% in the last two days.
Aug 6: NOL, StarHub, Tiger Air, Venture, Hyflux
August 6th, 2010 |
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The following companies may have unusual price changes in Singapore trading today. Share prices are from the previous close. Singapore’s Straits Times Index gained 0.2% to 3,006.76.
Hyflux (HYF SP): Singapore’s biggest water treatment services provider said second-quarter profit rose 5% to $27.3 million from a year earlier. Hyflux declined 2.2% to $3.13.
Tiger Air has 1Q profit on surge in travel: Update
August 5th, 2010 |
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Tiger Airways Holdings, the budget carrier part-owned by Singapore Airlines, posted a first-quarter profit after it flew more passengers amid a rebound in air travel.
Net income totaled $1.9 million in the three months ended June, compared with a loss of $6.0 million a year earlier, the company said in a statement to the Singapore stock exchange today. Revenue increased 45% to $145.1 million in the quarter.
Tiger Air reverses loss with net profit of $1.9m for 1Q
August 5th, 2010 |
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Tiger Airways Holdings says it posted group profit after tax of $1.9 million for the first quarter ended 30 June 2010 (1QFY2010/11), versus a loss of $6 million for the corresponding quarter a year earlier (1QFY2009/10).
The quarterly result was supported by revenue growth of 45.0% from $100.1 million to $145.1 million, resulting from a 39% increase in passenger numbers. Growth in passenger volume outstripped seat capacity growth of 36.9%, leading to a 1.3 percentage point improvement in load factor to 84.2%.
Tiger Air posts 1Q profit of $1.9m
August 5th, 2010 |
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Tiger Airways Holdings, the budget carrier part-owned by Singapore Airlines, reported a first-quarter net income of $1.9 million, according to a statement sent to the Singapore stock exchange today.
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