Tiger Airways shares down following sell-off; Qantas gains on results report

Shares in Tiger Airways were down 4.2% by the close of trading on Thursday, after falling as much as 6% during the day's trading. The company confirmed that Ryanasia sold 18.6 million Tiger shares off-market at a placement price of SGB1.58, a discount of 4.8% on the closing price on 16-Feb-2011.

Elsewhere in Asia, shares in Taiwanese listed carriers EVA Airways and China Airlines were down, with reports of increased short selling. Taiwan and Singapore announced they will soon sign an expanded bilateral air services agreement, removing restrictions on capacity and frequencies between the islands.

Qantas shares gained 5.4%, following the carrier's positive results announcement earlier in the week. Also up was Japan's Skymark Airlines, which reportedly finalised its order for four Airbus A380s.

Selected APAD daily share price movements (% change): 17-Feb-2011