Tiger reports of a turnaround, achieves profit for the Sept quarter
Tiger Airways Holdings Ltd booked a three-month profit of $S14.1 million or $A11.0 million as of September 30, which the airline attributed to ballooning revenue that exceeded its also increasing passenger traffic.
Tiger said on Wednesday that the net profit marked the Singapore-based carrier's recovery from the loss of $S2.3 million posted in the previous corresponding period as chief executive Tony Davis revealed that forward bookings were picking up due to holiday travellers preparing for their journeys from December to February.
Mr Davis said that Tiger Airways Australia is positioning to capitalise on the peak season by upgrading its current fleet of aircraft to 12, which should be completed by the end of the financial year.
Apart from its existing market routes in Australia and Singapore, Tiger Airways said that it was mulling to service new routes in mainland China and India, which is also in line with the growing trend of forward bookings mostly destined to travel across the Asia-Pacific region.
At present, Tiger Airways runs its operations in Singapore and Australia, where the airline commenced its operation in November 2007 from Melbourne's Tullamarine Airport and Adelaide.
The carrier said that plans are in the works for it to fly from Avalon Airport in Melbourne by the latter part of November.
For the first half of the current financial year that ended on September 30, Tiger Airways said that it netted a profit of $S16 million, which is also a turnaround from the $S8.3 million loss that it incurred in the same period last financial year.