TIGER Airways registered a loss after tax of S$14 million (US$11.2 million) for the first quarter of its 2012/2013 financial year, an improvement on the S$21 million loss recorded one year ago (TTG Asia e-Daily, August 5, 2011).
Total revenue for the quarter was S$181 million, 1.4 per cent higher than the S$179 million recorded the previous year. The increase was largely due to higher yield (+7.8 per cent), offset by a 4.5 per cent decline in capacity and lower passenger load factor (-2.2 percentage points to 83.3 per cent).
Total expenses increased 1.2 per cent to S$193 million as a result of an increase in average fleet size (+18 per cent), partially offset by lower fuel cost (-3.1 per cent) during the quarter. Cost per available seat-kilometre increased by 5.9 per cent.
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, which grew 14.3 per cent during the quarter.”
“Tiger Australia has also made good progress since the hiatus in services a year ago. (The outfit’s) operating loss narrowed from S$23 million to S$21 million this quarter,” he added.
