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.