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31-Jan-2011 10:03 AM

Tiger Australia defers aircraft, issues profit warning after floods

Tiger Airways Australia announced that due to recent flooding in Australia it will defer the delivery of new aircraft until "at least" Apr-2011 and warned that the floods will affect its fourth-quarter earnings (The Australian, 31-Jan-2011). Tiger’s Singapore-based parent, Tiger Airways Holdings, has reported a SGD22.6 million (USD17 million) 4Q2010 net profit, a 60% year-on-year increase. Despite the deferral of aircraft, Tiger Airways Australia plans to increase seat capacity by at least 20% between Apr-Oct-2011.