I agree, with such a small proportion of the company listed the share price doesn't effect the company directly as much as others, like Qantas. The fact is they do have quitea large cash reserve. There loads are as good as any other carrier. Like ALL airlines high fuel will mean lower profits. However overall the business model is sound. The EMB will help manage low yielding routes. They have most of the terminal/gates locked up in most capitals. Like all airlines they Are deferring planes where they have too. They will be around in a year and more. Low share prices like for all us (as in supers etc) only are bad if you need to sell now. Which most people wont.
A bigger question is how long tiger will keep going. Yes singapore backed however losing nearly $1 mil a week as I have it on very good word even they wont back something like that forever. I know many of the tiger guys moving to jetstar recently are very relieved and happy to get out now.