Tiger Air Shares Up On CEO's Upbeat Comments

December 28, 2011

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Shares of Singapore budget carrier Tiger Airways rose on Tuesday after its CEO said he expects the company's Australian unit to operate more aircraft next year and the firm's partnerships in the region are making progress.

In August, Australia's aviation watchdog lifted its more than five-week flight ban on Tiger Airways Australia over safety concerns, but imposed flight restrictions on the carrier.

"It seems that the worst is behind for Tiger. As long as they can maintain flights, there's always hope they can do better," a local trader said."

Tiger Airways chief executive Chin Yau Seng said he expects the carrier to operate 10 aircraft in Australia by the middle of next year, up from seven currently, the Straits Times reported.

Tiger Airways has also made progress in its partnerships with airlines in Indonesia and the Philippines, Chin said.

(Reuters)