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Tiger Australia defers aircraft, issues profit warning after floods

31-Jan-2011 10:03 AM

Tiger Airways Australia announced that due to recent flooding in Australia it will defer the delivery of new aircraft until "at least" Apr-2011 and warned that the floods will affect its fourth-quarter earnings (The Australian, 31-Jan-2011). Tiger’s Singapore-based parent, Tiger Airways Holdings, has reported a SGD22.6 million (USD17 million) 4Q2010 net profit, a 60% year-on-year increase. Despite the deferral of aircraft, Tiger Airways Australia plans to increase seat capacity by at least 20% between Apr-Oct-2011.