Tiger Airways Group losses narrow in 1QFY2013

Tiger Airways Group revenue up 1% - financial highlights for three months ended 30-Jun-2012:

• Total revenue: SGD181 million, 143.3 million, +1.4% year-on-year;
  • Ancillary: SGD35.4 million (USD28.0 million), -4.1%;
• Total costs: SGD193 million (USD152.8 million), +1.2%;
  • Fuel: SGD81.4 million (USD64.4 million), -9.1%;
  • Labour: SGD27.4 million (USD21.7 million), +3.9%;
• Operating profit (loss): (SGD11.8 million) (USD9.3 million), compared to a loss of SGD12.1 million (USD9.5 million) in p-c-p;
  • Tiger Singapore: SGD4 million (USD3.2 million;
  • Tiger Australia: SGD21 million (USD16.6 million), compared to a loss of SGD23 million (USD18.2 million) in p-c-p;
• Net profit (loss): (SGD13.7 million) (USD10.9 million), compared to a loss of SGD20.6 million (USD16.3 million) in p-c-p;
• Passenger numbers: 1.4 million, -19.4%;
• Passenger load factor: 83.3%, -2.2 ppts;
• Breakeven load factor: 90.1%, -1.6 ppts;
• Average passenger fare: SGD102 (USD80.7), +27.5%);
• Average ancillary revenue per passenger: SGD22.5 (USD17.8), +13.1%;
• Revenue per RPK: SGD7.59 cents (USD6.0 cents), +7.8;
• Cost per ASK: SGD6.84 cents (USD5.4 cents), +5.9%;
• Cost per ASK excl fuel and foreign exchange: SGD3.94 cents (USD3.1 cents), +11.0%;
• Average sector length: SGD1608 km, +12.6%;
• Total assets: SGD1020 million (USD807.3 million), -4.9% when compared to period ended 31-Mar-2012;
• Cash: SD111 million (USD87.9 million), +31.1%, when compared to period ended 31-Mar-2012;;
• Total liabilities: SGD792 million (USD626.8 million), -3.8% when compared to period ended 31-Mar-2012. [more - original PR]

*Based on the average conversion rate at USD1 = SGD1.2635 for the period

Tiger Airways Group: "Tiger Singapore has seen healthy load factors in recent months as demand has caught up with capacity. It will continue to expand capacity through frequency increases and the addition of new routes." Source: Company statement, 27-Jul-2012.