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Tiger still grounded as regulator runs safety checks
Statement from Tiger Airways Australia MEDIA UPDATE STATEMENT FROM TIGER AIRWAYS AUSTRALIA – updated Monday, 1 August 2011 Singapore, 1 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" ) had applied to the Federal Court of Australia on 7 July 2011 to seek an extension to the period of suspension of Tiger Airways Australia's flights to 1 August 2011. The court hearing for this application was scheduled to be held on 1 August 2011, following a court adjournment by consent from 28 July 2011. In relation to the above, Tiger Airways Australia and CASA, have jointly applied to the court for a further adjournment of the proceedings brought by CASA from 1 August 2011 to 3 August 2011. The court has today adjourned the proceedings by consent to 3 August 2011. Tiger Airways Australia and CASA are currently in ongoing discussions regarding the suspension and see no utility in having a hearing today whilst these discussions continue. Tiger Airways Australia flights will, by virtue of the adjournment, remain suspended until at least 3 August 2011. Certain press reports that Tiger Airways Australia flights will re-commence on Friday, 5 August 2011 are speculation. Tiger Airways Australia will make an announcement regarding the date that flights will re-commence and tickets sales have resumed, at the appropriate time.
Tiger Relaunch Hit With Delay
http://www.smh.com.au/business/tiger-relaunch-hit-with-delay-20110801-1i775.html
http://au.ibtimes.com/articles/190049/20110801/further-court-hearing-delays-continue-to-ground-tiger-airways.htm
I agree. it is too cloudy for shorties...With Pillay onboard and Dow Futures +157 points.....I should say good luck and all the best to Tiger....Warren buffet was talking about chicken wings not airlines..LOL....whoever short this counter last week better start covering today....once it takes off....it will fly at a lower altitude anymore....
GuavaXF30 ( Date: 31-Jul-2011 19:15) Posted:
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Tiger's future is too cloudy. Even mother SIA taking a big beating right now. Learn from Warren Buffet. Stay away from anything with wings....
derekchong ( Date: 31-Jul-2011 13:57) Posted:
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New Chairman, J.Y. Pillay said Yes to Tiger for Sia and Singapore.
Sia set up a low cost carrier to operate in the mid to long haul
segment and Tiger Airways in short haul business. I believe
they will merge into one entity soon.
DBSV Report:
Tiger Airways Holdings: FULLY VALUED S$1.24 Bloomberg Code: TGR SP
Updates on possible resumption of operations in Australia
Price Target : 12-Month S$ 0.90
by: Suvro SARKAR +65 6398 7973
Tiger Australia confident of resuming flights in near future.Following the deferment of the Federal Court hearing scheduled on 28th July to 1st August to allow Tiger Airways to continue its constructive discussions with the Civil Aviation Safety Authority of Australia (CASA), CASA has now issued Tiger Airways with a set of formal conditions that Tiger Australia must comply with prior to the re-introduction of domestic flights. Following this, Tiger Australia has announced that it is confident that it can comply with the conditions and should be able to resume services in the near term.
5th August the earliest possible date, but may take more time.What this implies is that the grounding definitely extends till 1 August as expected, and it would likely take Tiger a few more days to comply with CASA's conditions before it can resume flying. Tiger has indicated that it would automatically refund all passengers booked to fly between 1st August and 4th August. Thus, the earliest it can resume operations in Australia would be 5th August but further announcements would be made regarding the date of resumption and re-commencement of ticket sales in due course. However, there is every possibility that the ban may extend longer as it could take Tiger Australia more than 4 days to comply with the conditions and satisfy the regulator.
Share price uptick over last few days hard to justify.Even if Tiger Australia can resume operations from 5th August, it would imply 5 weeks of grounding and more than S$10m in direct losses. Going forward, costs will increase in Australia as Tiger seeks to improve pilot proficiency, management quality and safety systems to satisfy the regulator and enhance credibility. Without the benefit of forward bookings over the last month and a possible dent to reputation, load factors in the initial months after resuming operations would be weak as well. Thus, Tiger Australia is likely to be deep in the red in FY12 and be a drag to Singapore operations, which itself would be affected by high jet fuel prices. Tiger Airways will be releasing 1Q-FY12 results on 4th August and we would be reviewing our numbers again at that stage.
No change to our recommendation and TP.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_2754D539A5125629482578DB00340470/$file/CompanyStatement.280711.pdf?openelement
GROUNDED airline Tiger Airways Australia expects to be cleared to fly again shortly, possibly from next Friday.
http://www.heraldsun.com.au/news/breaking-news/tiger-expects-quick-clearance-to-fly/story-e6frf7jx-1226103786485
http://www.theaustralian.com.au/news/breaking-news/tiger-expects-quick-clearance-to-fly/story-fn3dxity-1226103786485
I think tomorrow will be flag as the focus will be on the AGM at 3pm.
tiger looks weak, might react tmr?
It mean good news, they r close to meeting the requirements and further suspension is not required.
From the news, it looks like it will resuming at between 2 to 5 Aug. I estimated it will reach 1.28 to 1.39 when this news is confirmed.
vested and will be attending the AGM tomorrow. ^.^
Any idea why Tiger is still trading higher? Thought the hearing has been adjourned again?
Tiger Airways suspension remains in place
A scheduled Federal Court directions hearing of the Civil Aviation Safety Authority's application to continue the suspension of Tiger Airways Australia Pty Ltd has been adjourned for a second time.
A Federal Court directions hearing had been scheduled for Thursday 28 July 2011.
The matter has now been adjourned until Monday 1 August 2011.
While the matter is adjourned the suspension of Tiger Airways Australia continues.
CASA applied to the Federal Court on 7 July to continue the suspension until 1 August 2011, in order to complete its investigations of serious safety issues identified within Tiger Airways Australia's operations.
CASA is aiming to complete its investigations by 1 August 2011. Decisions on a resumption of Tiger's operations are expected to be taken by that date.
An initial scheduled directions hearing in the Federal Court on the suspension was adjourned on 22 July 2011, until 28 July 2011.
Media contact:
Peter Gibson
Mobile: 0419 296 446
Ref: MR6211
Sold all 30 lots bought at 1.0, when they said they got ab Australian safety expert consultant.
thanks Tiger.
But the suspension will eventually be lifted right?
I believes will be somewhere next week.
tanglinboy ( Date: 27-Jul-2011 19:35) Posted:
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:)
francisd ( Date: 27-Jul-2011 14:36) Posted:
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Then how come still buying new aircrafts?
http://www.foxbusiness.com/industries/2011/07/26/tiger-airways-to-increase-fleet-to-20-airbus-a320-aircraft-by-2012/
MrKenny ( Date: 27-Jul-2011 16:52) Posted:
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Someone is pushing up the prices~ suspended from flying affects business real bad.
There is some news in the Australian papers that they will be allowed to resume operations in Aug.
But TIGER has said that they are still in talks the authorities today afternoon in a co. statement.
BEWARE before buying into this.
Cheers.
no problem, alot of short covering today.