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Tiger returns to profitability as revenue surges 35%

3-Nov-2010 11:52 AM

Tiger Airways revenue up 35% - financial highlights for the three months ended 30-Sep-2010:

  • Revenue*: USD111.4 million, +35.4% year-on-year;
    • Ancillary: USD23.2 million, +41.0%;
  • Operating costs: USD104.0 million, +23.0%;
    • Fuel: USD39.7 million, +31.7%;
    • Labour: USD14.8 million, +40.4%;
  • Operating profit: USD7.5 million, compared with a loss of USD2.3 million in p-c-p;
  • Net profit: USD10.9 million, compared with a loss of USD1.8 million in p-c-p;
  • Passenger numbers: 1.4 million, +25.3%;
  • Passenger load factor: 87%, +2.4 ppts;
  • Average passenger fares: USD61.7, +7.0%;
  • Ancillary revenue per passenger: USD15.99, +10.8%;
  • Revenue per ASK: USD 4.76 cents, +6.8%;
  • Cost per ASK: USD 4.44 cents, -3.1%;
  • Cost per ASK excl fuel and forex: USD 2.80 cents, +3.1%;
  • Average sector length: 1,426 km, +4.1%;
  • Total assets: USD547.0 million, +20.0% when compared with the period ended 31-Mar-2010;
  • Cash and cash equivalents: USD150.2 million, -6.4% when compared with the period ended 31-Mar-2010;
  • Total liabilities: USD417.9 million, +23.0% when compared with the period ended 31-Mar-2010. [more]

*Based on the conversion rate at USD1 = SGD1.28802

Tiger Airways: “With the delivery of additional aircraft during the second half of the current financial year, Management is focused on ramping up services on existing routes as well as introducing new routes, in particular to Greater China and India from Singapore, and domestically in Australia. Forward bookings continue to be firm and in line with the recent trend,” Company statement. Source: Tiger Airways, 02-Nov-2010.