Tiger Airways has been banned from flying until next Saturday in Australia, following a serious safety breach on Thursday. The Australian Transport Safety Bureau confirmed it was investigating the latest incident at Avalon Airport, near Geelong, on Thursday night in which a plane is understood to have dropped 900ft below the 2500ft safe minimum height.
Tiger has also been given the Civil Aviation Safety Authority (CASA) show-cause notice to improve the proficiency of Tiger’s pilots, improvements to pilot training and checking processes, changes to fatigue management as well as improvements to maintenance control and ongoing airworthiness systems.
Today, on the first day of trading after the ban, Tiger Airway’s stock price plunged 15.97% to close at $1. Is this just a small blip for Tiger or is this the start of more woes? Only time will tell.