Tiger Airways (J7X.SG) +1.0% at $1.97, unfazed by budget carrier’s latest operating data showing on-month decline in August performance; load factor off 3.4% at 86%, while passenger volume off 15.5% at 442,000, according to Dow Jones.

DBS Vickers, which has Hold call with $2.00 target, attributes decline to flight cancelations arising from pilot shortage, also August being traditionally weak month for travel. But on an on-year basis, performance improved due to increased capacity.

DMG expects “stronger passenger numbers for subsequent months as the new pilots start their service this month.” DMG has Buy call on stock with $2.13 target. Orderbook quotes tip minimal upside beyond $2.00.