Tiger Airways confirms strong passenger growth
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Southeast Asia,
Tiger Airways
Tiger Aviation confirmed strong passenger growth of 73.7% for the three months ending 30-Jun-08 compared to the year before and released the audited profit figures for Tiger Airways Singapore culminating in a nett profit after tax of SGD37.8 million for the year ending 31-Mar-08.
Tiger Aviation CEO and President Tony Davis said, “Tiger Airways is pleased to announce that it has achieved a trading profit of SGD 37.8m for the past financial year. The last financial year was a very good year for Tiger Aviation as we successfully transitioned into a group structure, launched Tiger Airways Australia and our airline in Singapore achieved a substantial trading profit in its third full year of operations.”
Tiger Airways Singapore confirmed key highlights from its 2007/08 financial performance included;
*Net Profit after tax of SGD37.8m from a Nett Loss after tax of SGD14.3m the previous year
*Total Revenues increased by 56% to SGD271m
*Trading Margin increased by 16.6 points from -7.8% to 8.8%
*Cash balances increased over 400% from SGD3.9m to SGD19.6m
*No increase in shareholder funds which remain at SGD24.4m
Davis said, "Even with the challenging market conditions and current oil prices we remain confident about the long term success of both our Asian and Australian based airlines. We continue to see strong demand for our low fares and we are committed to continued growth as we expand our operations in both Australia and Singapore."
Tiger Aviation group first quarter Financial Year 2008/09 highlights included;
*73.7% increase in passengers carried over previous year;
*64.9% increase in seat capacity;
*Load factor increased by 4.1 points
*57.8% increase in revenue;
Tony Davis said, "The Tiger Aviation group of airlines has continued to deliver impressive year on year performance with strong increases in passengers flown and load factors for the first three months of Financial Year 2008/09. We are all very excited about the future opportunities for Tiger Airways as we continue to grow our businesses across the region".
(c) Centre for Asia Pacific Aviation. Date posted: 07-Aug-08
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Tiger Airways confirms strong passenger growth 
