21-May-2012 12:25 PM

Tiger Airways remains in the red in FY2012

Tiger Airways revenue down 1% – financial highlights for 12 months ended 31-Mar-2012:

  • Total revenue: SGD618.2 million (USD493.2 million), -0.7% year-on-year;
    • Ancillary: SGD118.1 million (USD94.2 million), -7.5%;
  • Total costs: SGD701.6 million (USD559.7 million), +22.0%;
    • Fuel: SGD296.9 million (USD236.9 million), +29.2%;
    • Labour: SGD102.8 million (USD82.0 million), +26.7%;
  • Operating profit (loss): (SGD83.4 million) (USD66.5 million), compared to a profit of SGD47.2 million (USD37.7 million) in p-c-p;
    • Tiger Airways Singapore: (SGD16.0 million), 12.8 million), compared to a profit of SGD53.8 million (USD42.9 million) in p-c-p;
    • Tiger Airways Australia: (SGD76.8 million) (USD61.3 million), compared to a loss of SGD8.8 million (USD7.0 million) in p-c-p;
  • Net profit (loss): (SGD104.3 million) (USD83.2 million), compared to a profit of SGD39.9 million (USD31.8 million) in p-c-p;
  • Passenger numbers: 5.5 million, -8.4%;
  • Passenger load factor: 81.5%, -4.3 ppts;
  • Average passenger fares: SGD91.5 (USD73), +10.4%;
  • Average ancillary revenue per passenger: SGD20 (USD16), -4.8%;
  • Yield: SGD 7.19 cents (USD 5.7 cents), -4.9%;
  • Cost per ASK: SGD 6.72 cents (USD 5.4 cents), +12.0%;
  • Cost per ASK excl fuel and forex: SGD 3.87 cents (USD 3.1 cents), +9.6%;
  • Average sector length: 1558 km, +13.1%;
  • Total assets: SGD1072 million (USD855.2 million), +7.1%;
  • Cash and cash equivalents: SGD160.7 million (USD128.2 million), -17.9%;
  • Total liabilities: SGD823.4 million (USD657.0 million), +2.2%. [more - original PR]

*Based on the average conversion rate at USD1 = SGD1.2534

Tiger Airways: “Following rapid capacity expansion in FY11-12, Tiger Airways Singapore is moderating its seat capacity growth to 7% in the Northern Summer 2012 season (April to October) compared to the same season last year. This will allow passenger demand to catch up to the additional capacity introduced in the previous financial year, which should in turn lead to improvements in load factors in FY12-13.” Source: Company statement, 18-May-2012.

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