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27-Jan-2015 9:06 AM

Tiger Airways Holdings profits improve with operating profit of USD3.2m in 3QFY2015

Tiger Airways Holdings revenue up 6% - financial highlights for three months ended 31-Dec-2014:

  • Total revenue: SGD182.3 million (USD140.7 million), +5.9% year-on-year;
    • Passenger seat: SGD148.3 million (USD114.5 million), +13.0%;
    • Ancillary: SGD34.0 million (USD26.2 million), -17.0%;
  • Total costs; SGD178.2 million (USD137.6 million), -1.5%;
    • Fuel: SGD65.2 million (USD50.3 million), -21.2%;
    • Airport and handling: SGD22.5 million (USD17.3 million), -6.7%;
    • Labour: SGD20.8 million (USD16.1 million), -13.3%;
  • Operating profit: SGD4.1 million (USD3.2 million), compared to a loss of SGD8.8 million (USD6.8 million) in p-c-p;
  • Net profit: SGD2.2 million (USD1.7 million), compared to a loss of SGD118.5 million (USD91.5 million) in p-c-p;
  • Passenger numbers: 1.3 million, -2.1%;
  • Passenger load factor: 82.0%, +6.2 ppts;
  • Yield: SGD 7.22 cents (USD 5.6 cents), +4.9%;
  • Cost per ASK: SGD 6.06 cents (USD 4.7 cents), +3.6%;
  • Total assets: SGD1008 million (USD778.2 million);
  • Cash and cash equivalents: SGD99.5 million (USD76.8 million);
  • Total liabilities: SGD780.5 million (USD602.6 million). [more - original PR]

*Based on the average conversion rate at USD1 = SGD1.2953

Tiger Airways Holdings: "We had to make some difficult decisions in the turnaround process. Though we are not out of the woods yet, we are encouraged by the improving financial results. We are also heartened by strong shareholders' support of our rights issue," Lee Lik Hsin, CEO. Source: Company statement, 26-Jan-2015.

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