Friday, August 20, 2010

Tiger Airways share price fell more than 3% today after several flights cancellation

Tiger Airways [J7X.SI] share price fell more than 3% today after several flights cancellation were reported. Since Aug 5, Tiger Airways share price has fallen by more than 14% from S$2.24 to today's S$1.92.

Lifted from here:
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.

Cancellations or rescheduling result from a number of factors including technical, weather, safety and security, and other operational matters, Charles Sng, a spokesman with the carrier, said by phone today. The company has already hired more pilots, he said when contacted by Bloomberg News.

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