Tigerair Turnaround Achieved With Full Year Profit

4QFY16
Tiger Airways Holdings Limited ("Tigerair") reported an operating profit of $14.5 million for the fourth quarter ended 31 March 2016, an improvement of $16.8 million year-on-year. Net profit came in at $7.9 million, an improvement of $26.7 million compared to a year ago.

Revenue increased by $7.1 million (4.1%) due to higher load factor (3.5 percentage points). Yields remained flat. Expenses decreased by $9.6 million (-5.5%) mainly due to lower fuel costs.

FY16
For the full year, Tigerair recorded an operating profit of $14.6 million compared to an operating loss of $39.9 million a year ago. Net profit was $0.3 million compared to previous year's net loss of $264.2 million.

Revenue increased by $25.5 million (3.8%) due to higher load factor (1.2 percentage points) and higher yields (+2.9%). Expenses decreased by $29.0 million (-4.0%) mainly due to lower fuel costs and higher aircraft productivity.

Outlook
The Board is heartened by these results which indicate that the turnaround of Tigerair is largely achieved.

Tigerair has become a wholly-owned subsidiary of Singapore Airlines and a core part of its portfolio of airlines. We look forward to the full integration into the Singapore Airlines Group.
The Board would like to thank customers, shareholders and staff for their support and efforts these past years.

Refer to full documentation in attachments box, located at the top left, below the headline.