Tiger Airways posts $2m profit for Q4 last year

Tiger Airways has reported a $2 million profit for the three months from October to December 2012, reversing six consecutive quarterly losses. The budget carrier announced a $17.4 million loss for the same October-December period in 2011.

Tiger said on Thursday that the better performance this time was on the back of 47 per cent rise in group revenue to $248 million. This was driven mainly by an increase in the number of passengers carried as well as stronger yields.

Group chief executive officer, Koay Peng Yen, said: "We are encouraged by the turnaround in this quarter."

The airline has two wholly-owned units, Tiger Singapore and Tiger Australia and also has stakes in Indonesia's Mandala Airlines and SEAir in the Philippines.

Register here to get free digital access to The Straits Times until Aug 9, 2015.
Comments