Losses at Tigerair for the three months to June 30 more than doubled to $32.8 million from $13.7 million in the same quarter last year, dragged down by the performance of its associates in Indonesia and the Philippines, and higher expenses.
This was despite the group reporting a much narrower operating loss from $11.8 million to $6.2 million during the quarter.
Overall turnover grew 30 per cent to $236.2 million, as Tigerair carried more passengers in its key Singapore and Australian markets, the group said in a stock exchange filing on July 22.
Total spending rose 25.5 per cent to $242.4 million.
During the quarter, Tigerair flew close to 2 million passengers, or a 36 per cent increase from a year ago.
Loss per share for the quarter widened from 1.6 cents a year ago to 3.32 cents, while net asset value per share was 48 cents as of June 30, compared with 24 cents previously.