Tigerair Australia FY2017 loss affected by Bali operations

Tigerair Australia reported (10-Aug-2017) an operating loss of AUD24.3 million (USD18.3 million) in FY2017 ended 30-Jun-2017, compared to a profit of AUD2.2 million (USD1.6 million) in FY2016. The carrier's results were impacted by the costs associated with the launch and withdrawal of Bali operations. Revenue increased 14.2% year-on-year to AUD543.3 million (USD409.5 million). Passengers increased 10.7% and yield increased 0.1% while unit revenue increased 3.6%. Virgin Australia stated: Tigerair Australia's domestic operations were profitable, with the business delivering passenger and unit revenue growth, however Tigerair's overall underlying performance, including international operations, were impacted by the launch and withdrawal of operations to Denpasar". [more - original PR]

*Based on the average conversion rate at AUD1 = USD0.753705 for FY2017
*Based on the average conversion rate at AUD1 = USD0.72825 for FY2016