Tiger Airways (J7X.SG) off 2.0% at 2-week low of $2.00 as budget carrier reveals it was forced to cancel number of flights last weekend due to grounding of 2 planes following technical problems, says Dow Jones.

“Given the tight scheduling and high utilisation of planes for budget carriers, planes that are out of action will have a much more severe impact compared to the full-service carriers,” says DMG analyst Melissa Yeap.

Factoring in additional flight cancellations over last 2 months, UOB KayHian cuts earnings estimate for current fiscal FY11 by 23.9% to $42.9 million; keeps Sell call, $1.41 target.

If $1.96 set in early trade fails to hold as support, next support at $1.87 August trough.