Tiger stems operating losses in Australia
Tiger Airways Australia, back in the air after being grounded for a time last year, has seen its operating loss narrowed from S$23 million (A$17.5m) to S$21 million for the first quarter of its 2012/2013 financial year.
Overall, Tiger Airways group registered a loss after tax of S$14 million (A$10.6m), an improvement on the S$21 million loss recorded one year ago.
Total revenue for the quarter was 1.4 per cent higher than the previous year.
The increase was largely due to higher yield (+7.8%), offset by a 4.5 per cent decline in capacity and lower passenger load factor (-2.2 percentage points to 83.3%).
Cost per available seat-kilometre increased by 5.9%.
Chin Yau Seng, Tiger Airways group CEO, said, "The group’s financial performance is gradually coming back on track with Tiger Airways Singapore turning in an operating profit of S$4 million this quarter.
"It recorded a healthy passenger load factor of 85.1 per cent as demand has caught up with capacity."
Ian Jarrett
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