Tiger Airways (J7X.SG) off 1.9% at $2.11 in thin trade, with investors content to trim positions amid quiet market after +2.4% so far this week, +12.6% since beginning September, says Dow Jones.

While budget carrier widely touted to benefit from growing demand in Asia for low-cost travel, some analysts say shares have run ahead of expectations, especially given airline's rising operating costs, pilot shortage.

"The current market price does not reflect the present or foreseeable fundamental reality," says UOB KayHian; has Sell call with $1.41. Notes while Tiger has been able to increase revenue through low fares, current environment conducive to higher fares; "the extent to which Tiger can adjust prices will be determined by customer demand and pricing by its competitors. Some of the pricing power and loyalty that Tiger would have enjoyed could have been lost due to its recent flight cancellations."

Support at 10-day moving average, last at $2.06.