Tiger Airways IPO

Tiger Airways will launch its initial public offering at the maximum price of $1.65 despite the less than optimistic response from analysts.

The airlines intends to use its money to buy aircraft, fund "potential new airlines or operating bases" and to pay down short-term loans.

Shares are expected ot start trading on Jan 22 on the Singapore Stock Exchange.

In the financial year ended 2009, Tiger Airways made a loss of 50.8 million compared to a profit on 9.9 million in the previous year.