Tiger losses shrink in FY12/13

Tiger losses shrink in FY12/13
By admin


Tiger Australia posted an operating loss of SG$15.1 million (AU$12.3m) for the fourth quarter, as the Tiger Group significantly cut its losses for 2012/13 financial year.
The Australian Q4 figure represents an improvement on the previous corresponding period which saw losses of $17.7 million (AU$14.4m).
The low cost carrier attributed the loss to the rising cost of operations as it increased capacity by 68.8% with new routes from Sydney and Melbourne.
However, despite the capacity hikes, load factor for the quarter climbed 4.2 percentage points to 85.6%.Revenue rose 82% to $71.1 million as traffic climbed 77.5% and yield strengthened by 2.5%
Meanwhile, the Tiger Group cut annual losses down to SG$7.3 million (AU$5.95m) from the SG$83.4 million (AU$68m) tumble of the previous year and announced a second consecutive quarter of operating profit with the three months to March 31 reaping SG$12.7 million (AU$10.4m).
The profit figure represents a strong turnaround on the same period in 2012, which saw  a SG$17.2 million (AU$14m) quarterly loss posted.
"We are extremely encouraged to have achieved a second straight quarter of operating profit and are looking forward to delivering a sustained turnaround upon the completion of the Tiger-Virgin joint venture in mid-July," chief executive Koay Peng Yen said.

Latest News

  • Destinations
  • News

APT Launches 2025 Asia Adventures

APT has launched its Asia Adventures for 2025, including new luxury holidays in India, Sri Lanka and Japan. Five new tours lead guests to the highlights of India, including a seven-night cruise along the rarely travelled Lower Ganges aboard the Ganges Voyager. Further south, Sri Lanka’s greatest destinations are revealed on a new 15-day Land […]

  • Cruise
  • Luxury
  • News

Seabourn announces Western Kimberley Traditional Owners as Godparents of Seabourn Pursuit

Seabourn has named Western Kimberley Traditional Owners, the Wunambal Gaambera, as Godparents of the ultra-luxury purpose-built Seabourn Pursuit. It is the first cruise line to appoint Traditional Owners as godparents of a ship. Seabourn Pursuit embarks on its inaugural season in the Kimberley region this June. The naming ceremony will take place on Seabourn Pursuit’s […]

  • Luxury

Malolo Island Resort opens brand new Spa

Fiji’s Malolo Island has added another string to its bow – opening its $1.3 million day spa on Thursday, 18th April 2024. (Lead Image: matriarch Rosie Whitton with spa staff) Located at the edge of the resort’s luscious patch of tropical rainforest, the new “Leilani’s Spa” adds another level of elevated experiences to Malolo’s already […]