Tiger Airways half-year profits of $S16 million has disappointed investors. The numbers fell way short of market expectations even though it improved on last year’s $S8 million loss.
The future looks bleak for the budget carrier as analysts say it will struggle to meet consensus forecasts for a $S60 million profit for the full year.
Tiger has been blighted by technical problems to its fleet, which in August caused he airline to ground two aircraft in Singapore. A high turnover of pilots and senior managers since the airline was floated on the Singapore Stock Exchange in January has also been a problem.