Tiger Airways Group revenue up 23.2% in 1QFY2012

Tiger Airways Group revenue up 23.2% - financial highlights for the three months ended Jun-2011:

• Revenue*: USD146 million, +23.2% year-on-year;
  • Passenger revenue: USD115.8 million, +22.1%;
  • Ancillary revenue: USD30.1 million, +27.7%;
• Costs: USD155.8 million, +32.2%;
  • Fuel: USD73.1 million, +58.7%;
• Operating profit/loss: (USD9.8 million), compared with a profit of USD0.7 million in p-c-p;
• Net profit/loss: (USD16.8 million), compared with a profit of USD1.6 million in p-c-p;
• Passenger numbers: 1.8 million, +18.2%;
• Passenger load factor: 85.8%, +1.6 ppts;
• Revenue per ASK: USD4.94 cents, -5.6%;
• CASK: USD5.27 cents, +1.3%. [more]

* Based on the conversion rate USD1 = SGD1.22489

Tiger Airways: "Tiger Airways Singapore is planning to increase its fleet to 20 Airbus A320 aircraft by 31-Mar-2012, an increase of six aircraft compared to 31-Mar-2011. Forward bookings for Tiger Airways Singapore remain strong and generally in line with recent trends. With the loss incurred in the first quarter, and the suspension of all domestic services in Australia for more than a month, we expect Tiger Airways Australia to report a net loss for this financial year. The Group's financial performance will be significantly affected by the expected losses of Tiger Airways Australia, while being exposed to high and volatile jet fuel prices," Source: Company statement, 04-Aug-2011.