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TIGER AIRWAYS HOLDINGS LIMITED
1
(Incorporated in the Republic of Singapore) Company Registration Number: 200701866W
COMPANY STATEMENT
Singapore, 5 August 2011: Tiger Airways Holdings Limited provides the following update with
regards to the suspension of Tiger Airways Australia Pty Limited’s (“Tiger Airways Australia”)
domestic services.
As background, the Civil Aviation Safety Authority of Australia (“CASA”) applied to the Federal Court
of Australia on 7 July 2011 to seek an extension of the period of suspension of Tiger Airways
Australia flights to 1 August 2011. There have been several adjournments of the court hearing date
for the application since then.
The court hearing for the application was held today. At the court hearing, Tiger Airways and CASA
requested a further adjournment of the proceedings brought by CASA from 5 August 2011 to 11
August 2011. The court has today adjourned the proceedings by consent to 11 August 2011.
Tiger Airways Australia continues to work constructively with CASA and the two parties are in ongoing
discussions to resolve the issues. There is no information available yet as to when Tiger Airways
Australia may resume services, but the airline is committed to doing so as soon as possible.
Tiger Airways flights will, by virtue of the adjournment today, remain suspended until 11 August 2011.
The company will provide updates to the SGX as and when there are tangible developments.
Price goes up more than 10 percent never halt.
Price goes down less than 10 percents halt.
Win aready loh.
Naked shorters, good luck to u.
YES!!! That is what I expected....Good Good
wisann ( Date: 05-Aug-2011 15:06) Posted:
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trading halt
it will only happen if Tiger go below $1.00
Temasek and SIA will come to the rescue....or else they are seen as incapable...investor will demand their resignation during AGM. First, mishandling of Tiger safety and lead to Qtr result affected. Then cannot expedite on the grounding of the plane issue. Where is Pillay?
Punter77 ( Date: 05-Aug-2011 14:43) Posted:
| Current price has already factored in all the anticipated bad news so what can come after this can only be good news.... I'll think twice before shorting..... |
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Current price has already factored in all the anticipated bad news so what can come after this can only be good news.... I'll think twice before shorting.....
No worries, not vested. As usual, fingers not fast enough.
Joe2020 ( Date: 05-Aug-2011 14:26) Posted:
Dont Worry. It is like school children told to do correction when mistake made.
artng25 ( Date: 05-Aug-2011 12:17) Posted:
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Tiger Airways
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SYDNEY: Grounded low-cost carrier Tiger Airways Australia hit fresh problems Friday, with aviation regulators knocking back a redrafted safety manual in a move that will see its flight ban extended.
The Australian arm of Singapore's Tiger Airways has been grounded since July 2 over " serious and imminent" safety risks related to pilot training, fatigue management and other issues.
Negotiations for the ban to be lifted were in their final stages this week but the Civil Aviation Safety Authority (CASA) said " some of the documentation that they have provided is not complete and accurate and up to date."
" We've asked them to revise that, which they are doing, and obviously we can't move forward with the matter until we get that back from them and reassess it," CASA spokesman Peter Gibson told AFP.
" That obviously has delayed things a bit."
Gibson said it was unclear how long that delay would be, but dismissed reports in Australian media that it could be until the end of August.
The problems relate to " key safety documents, manuals essentially that underpin the operations of the airline" which CASA had asked Tiger to amend before it would be allowed to fly again.
The manual outlining how Tiger would manage and process its operational data was of particular concern, Gibson said, which was " quite central to safety."
The airline's Singapore-based parent company Tiger Airways Holdings issued a statement to the Singapore Stock Exchange saying it " continues to work constructively" with CASA.
" The two parties are in ongoing discussions to resolve the issues," the company said.
" There is no information available yet as to when Tiger Airways Australia may resume services, but it is committed to do so as soon as possible."
The company said Tiger Airways Australia incurred a SGD$23.2 million (US$19 million) loss in the first quarter, compared with a SGD$10.6 million loss in the same period in 2010, due to higher fuel prices and disruption from the Chile ash cloud in June.
" With the loss incurred in the first quarter, and the suspension of all domestic services in Australia for more than a month, we expect Tiger Airways Australia to report a net loss for this financial year," Tiger Holdings said, reporting a SGD$20.6 million after-tax loss for the quarter company-wide.
" The Group's financial performance will be significantly affected by the expected losses of Tiger Airways Australia, while being exposed to high and volatile jet fuel prices," it added.
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Dont Worry. It is like school children told to do correction when mistake made.
artng25 ( Date: 05-Aug-2011 12:17) Posted:
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Tiger Airways
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SYDNEY: Grounded low-cost carrier Tiger Airways Australia hit fresh problems Friday, with aviation regulators knocking back a redrafted safety manual in a move that will see its flight ban extended.
The Australian arm of Singapore's Tiger Airways has been grounded since July 2 over " serious and imminent" safety risks related to pilot training, fatigue management and other issues.
Negotiations for the ban to be lifted were in their final stages this week but the Civil Aviation Safety Authority (CASA) said " some of the documentation that they have provided is not complete and accurate and up to date."
" We've asked them to revise that, which they are doing, and obviously we can't move forward with the matter until we get that back from them and reassess it," CASA spokesman Peter Gibson told AFP.
" That obviously has delayed things a bit."
Gibson said it was unclear how long that delay would be, but dismissed reports in Australian media that it could be until the end of August.
The problems relate to " key safety documents, manuals essentially that underpin the operations of the airline" which CASA had asked Tiger to amend before it would be allowed to fly again.
The manual outlining how Tiger would manage and process its operational data was of particular concern, Gibson said, which was " quite central to safety."
The airline's Singapore-based parent company Tiger Airways Holdings issued a statement to the Singapore Stock Exchange saying it " continues to work constructively" with CASA.
" The two parties are in ongoing discussions to resolve the issues," the company said.
" There is no information available yet as to when Tiger Airways Australia may resume services, but it is committed to do so as soon as possible."
The company said Tiger Airways Australia incurred a SGD$23.2 million (US$19 million) loss in the first quarter, compared with a SGD$10.6 million loss in the same period in 2010, due to higher fuel prices and disruption from the Chile ash cloud in June.
" With the loss incurred in the first quarter, and the suspension of all domestic services in Australia for more than a month, we expect Tiger Airways Australia to report a net loss for this financial year," Tiger Holdings said, reporting a SGD$20.6 million after-tax loss for the quarter company-wide.
" The Group's financial performance will be significantly affected by the expected losses of Tiger Airways Australia, while being exposed to high and volatile jet fuel prices," it added.
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This was expected.
Singapore budget carrier Tiger Airways plunged 9
percent to S$1.045
after it said its earnings would be
significantly affected by its Australia
operations, which it
expects to report a net loss for the financial year
2011-2012.
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Tiger Airways
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SYDNEY: Grounded low-cost carrier Tiger Airways Australia hit fresh problems Friday, with aviation regulators knocking back a redrafted safety manual in a move that will see its flight ban extended.
The Australian arm of Singapore's Tiger Airways has been grounded since July 2 over " serious and imminent" safety risks related to pilot training, fatigue management and other issues.
Negotiations for the ban to be lifted were in their final stages this week but the Civil Aviation Safety Authority (CASA) said " some of the documentation that they have provided is not complete and accurate and up to date."
" We've asked them to revise that, which they are doing, and obviously we can't move forward with the matter until we get that back from them and reassess it," CASA spokesman Peter Gibson told AFP.
" That obviously has delayed things a bit."
Gibson said it was unclear how long that delay would be, but dismissed reports in Australian media that it could be until the end of August.
The problems relate to " key safety documents, manuals essentially that underpin the operations of the airline" which CASA had asked Tiger to amend before it would be allowed to fly again.
The manual outlining how Tiger would manage and process its operational data was of particular concern, Gibson said, which was " quite central to safety."
The airline's Singapore-based parent company Tiger Airways Holdings issued a statement to the Singapore Stock Exchange saying it " continues to work constructively" with CASA.
" The two parties are in ongoing discussions to resolve the issues," the company said.
" There is no information available yet as to when Tiger Airways Australia may resume services, but it is committed to do so as soon as possible."
The company said Tiger Airways Australia incurred a SGD$23.2 million (US$19 million) loss in the first quarter, compared with a SGD$10.6 million loss in the same period in 2010, due to higher fuel prices and disruption from the Chile ash cloud in June.
" With the loss incurred in the first quarter, and the suspension of all domestic services in Australia for more than a month, we expect Tiger Airways Australia to report a net loss for this financial year," Tiger Holdings said, reporting a SGD$20.6 million after-tax loss for the quarter company-wide.
" The Group's financial performance will be significantly affected by the expected losses of Tiger Airways Australia, while being exposed to high and volatile jet fuel prices," it added.
be careful dont get caught when tiger request for halt when px fall below 10%. now ard -8+% already
rickyw ( Date: 05-Aug-2011 10:46) Posted:
yeah...i think price start to fall once more soon...
hpong5 ( Date: 05-Aug-2011 10:35) Posted:
| Very few will want to long this counter except for those covering shorts |
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yeah...i think price start to fall once more soon...
hpong5 ( Date: 05-Aug-2011 10:35) Posted:
Very few will want to long this counter except for those covering shorts.
rickyw ( Date: 05-Aug-2011 10:29) Posted:
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who bet afternoon closing will be ard $1 or lower? |
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tOO bAd
tO bE fAlsErickyw ( Date: 05-Aug-2011 10:29) Posted:
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who bet afternoon closing will be ard $1 or lower? |
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Very few will want to long this counter except for those covering shorts.
rickyw ( Date: 05-Aug-2011 10:29) Posted:
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who bet afternoon closing will be ard $1 or lower? |
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tIger aIr
bOrn lOser sInce incOrpOratIOn
befOre listing
becAUse Of eXUberAnt mAnAgement ? ? ? ?
cAn a bOrn lOser be
rE-bIrthEd vIA
A listing
IntO
A wInnEr ? ? ? ?
wIth sAmE mAnAgEmEnt ? ? ? ?
who bet afternoon closing will be ard $1 or lower?
Ya i feel so too. Australia flight still no light.
- Tiger Airway posted a 1Q11 net loss of S$20.6m, attributable to fuel costs, higher tax expense
[this must be the reAsOn for listing Tiger Air ? ? ? ?]
and flight disruptions.
It added that it remains committed to Australia where it is still facing the prospects of several more weeks of suspension by the Australian aviation regulators.
WHY dOn't NTUC FAIRPRICE be listed ? ? ? ?
WHY nOt SINGAPORE POOLS be listed ? ? ? ?
