Tigerair's quarterly net loss widens to $32.8 million from $13.7 million

Tigerair's plane is seen at Changi Airport on July 3, 2013. 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 I
Tigerair's plane is seen at Changi Airport on July 3, 2013. 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. -- ST FILE PHOTO: JOYCE FANG

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.

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