Tiger Airways has posted its
first quarterly loss since the airline went public in January last year. Both Tiger Airways Singapore and Tiger Airways Australia posted a net loss of SG$20.6 million (US$17 million) in the three months ended June 30. This reverses a SG$1.9 million profit in the same quarter last year.
High fuel prices, adverse weather conditions and disruption caused by volcanic ash from Chile’s Puyehue-Cordon Caulle volcano during the quarter were to blame, according to the company.
Between April and June, Tiger Airways Australia recorded an operating loss of SG$23.2 million while the Singapore airline posted an operating profit of SG$7.5 million. At the group level, overall revenue increased by 23.2 percent to SG$178.8 million but expenses grew faster; by 32.2 percent to almost SG$191 million.