Tiger disappoints despite profit surge
There has been a mixed reaction to Singapore-based budget carrier Tiger Airways’ first-half profit of S$16 million (A$12.4 million), which fell short of market expectations.
It was a marked improvement on an $S8 million loss in the same half last year, but analysts believe the airline will struggle to meet consensus forecasts for a $S60 million profit for the full year.
The airline has been dogged by cancellations at its Singapore base in the last three months, and in August it was forced to ground two aircraft in Singapore because of technical problems.
Chief executive Tony Davis remains confident that the worst is behind the airline, flagging a new Australian east coast base as the low-cost carrier expands its fleet and its operations.
“We are talking to airports and state governments right now with a view to announcing some more bases in the coming year,” Davis said.
Tiger is also continuing to push for the right to fly its Australia-based jets internationally and is renewing its efforts to gain permission to fly to New Zealand in the light of moves by Virgin Blue and Air New Zealand to join forces across the Tasman.
Davis said it was “absolutely nonsensical” to deny Tiger the opportunity to service New Zealand in what was a self-professed single aviation market.
Ian Jarrett
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