Tiger Airways Holdings achieves turnaround with operating profits in 4Q and FY2016

Tiger Airways Holdings revenue up 4% - financial highlights:

• Three months ended 31-Mar-2016:
• • Total revenue: SGD179.3 million (USD127.9 million), +4.1% year-on-year;
  • • Ancillary: SGD36.0 million (USD25.7 million), -6.2%;
  • Total costs: SGD164.9 million (USD117.5 million), -5.5%;
  • • Fuel: SGD31.6 million (USD22.5 million), -35.1%;
    • Maintenance, material and repair: SGD33.2 million (USD23.6 million), +52.3%;
    • Labour: SGD21.3 million (USD15.2 million), +9.3%;
  • Operating profit: SGD14.5 million (USD10.3 million), compared to a loss of SGD2.3 million (USD1.7 million) in p-c-p;
  • Net profit: SGD7.9 million (USD5.7 million), compared to a loss of SGD18.8 million (USD13.9 million) in p-c-p;
• 12 months ended 31-Mar-2016:
• • Total revenue: SGD702.9 million (USD507.3 million), +3.8%;
  • • Ancillary: SGD146.4 million (USD105.7 million), -0.7%;
  • Total costs: SGD688.3 million (USD496.8 million), -4.0%;
  • • Fuel: SGD170.8 million (USD123.3 million), -35.5%;
    • Maintenance, material and repair: SGD106.1 million (USD76.5 million), +39.9%;
    • Labour: SGD83.3 million (USD60.1 million), -1.1%;
  • Operating profit: SGD14.6 million (USD10.6 million), compared to a loss of SGD39.9 million (USD31.0 million) in p-c-p;
  • Net profit: SGD282,000 (USD203,500), compared to a loss of SGD264.2 million (USD205.3 million) in p-c-p;
  • Total assets: SGD914.2 million (USD659.8 million);
  • Cash and cash equivalents: SGD262.3 million (USD189.3 million);
  • Total liabilities: SGD697.7 million (USD503.6 million). [more - original PR]

*Based on the average conversion rate at SGD1 = USD0.72177 for 12 months ended 31-Mar-2016
*Based on the average conversion rate at SGD1 = USD0.712926 for three months ended 31-Mar-2016
*Based on the average conversion rate at SGD1 = USD0.737339 for three months ended 31-Mar-2015
*Based on the average conversion rate at SGD1 = USD0.776829 for 12 months ended 31-Mar-2015

Tiger Airways Holdings: "The Board is heartened by these results which indicate that the turnaround of Tigerair is largely achieved." Source: Company statement, 05-May-2016.