The onslaught of Asian budget airlines has dented the fortunes of the region’s premium carriers, Cathay Pacific Airways Ltd. and Singapore Airlines Ltd. Cathay has been worst hit, with its stock tumbling 41 percent in the past 12 months amid competition from mainland Chinese carriers, while Singapore Air has lost 4.8 percent. Paul Yong, an equity analyst at DBS Group Holdings Ltd., says Singapore Air’s low-cost units Scoot Pte and Tiger Airways Holdings Ltd. both show “tremendous growth” and are positive for the carrier, something Cathay doesn’t have.

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