Tiger Airways Holdings operating loss halved in 1QFY2014, expects 'significant' traffic growth in FY

Tiger Airways Holdings revenue up 30% - financial highlights for three months ended 30-Jun-2013:

• Total revenue: SGD236.2 million (USD189.1 million), +30.3% year-on-year;
• • Tigerair Singapore: SGD160.9 million (USD128.8 million), +16.4%;
  • Tigerair Australia: SGD71.0 million (USD56.9 million), +70.2%;
  • Ancillary: SGD52.9 million (USD42.3 million), +49.4%;
• Total costs: SGD242.4 million (USD194.1 million), +25.5%;
• • Fuel: SGD97.0 million (USD77.6 million), +19.1%;
  • Labour: SGD36.1 million (USD28.9 million), +31.9%;
• Operating profit (loss): (SGD6.2 million) (USD5.0 million), compared to a loss o SGD11.8 million (USD9.4 million) in p-c-p;
• • Tigerair Singapore: SGD5.9 million (USD4.7 million), +56.4%;
  • Tigerair Australia: (SGD17.3 million) (USD13.9 million), compared to a loss of SGD21.0 million (USD16.8 million) in p-c-p;
• Net profit (loss): (SGD32.8 million) (USD26.2 million), compared to a loss of SGD13.7 million (USD11.0 million) in p-c-p;
• Passenger numbers: 1.9 million, +35.9%;
• Passenger load factor: 84.8%, +1.5 ppt;
• Breakeven load factor: 88.5%, -1.6 ppt;
• Average passenger fares: SGD94.3 (USD75.5), -7.5%;
• Yield: SGD 7.46 cents (USD 6.0 cents), -1.7%;
• Cost per ASK: SGD 6.6 cents (USD 5.3 cents), -3.5%;
• Cost per ASK excl fuel and forex: SGD 3.87 cents (USD 3.1 cents), -1.8%;
• Average sector length: 1616 km, +0.5%;
• Total assets: SGD1284 million (USD1028 million);
• Cash and cash equivalents: SGD345.1 million (USD276.3 million);
• Total liabilities: SGD814.2 million (USD652.0 million). [more - original PR]

Tiger Airways Holdings: "Tigerair Singapore is looking forward to significantly growing its traffic volume for FY14, through new destinations introduced recently and increased flight frequencies on high demand routes." Source: Company statement, 22-Jul-2013.