Tigerair losses continue to narrow
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Tigerair’s financial position continued to improve in the quarter ending 30 September 2015, although it still suffered a net loss.
The low-cost carrier achieved a 12% year-on-year rise in revenues, to SG$167.9 million (US$121m) for the quarter, allowing it to reduce its net loss by 93%, to SG$12.8m. The company’s operating loss was cut by more than half, from SG$25.3m to SG$10.4m.
The group said the improved performance was “mainly attributable” to its operations in Singapore.
“We are encouraged by the narrowing of losses in a seasonally weak second quarter. We will work hard to deliver further improvements for the months ahead,” said Lee Lik Hsin, CEO of Tigerair.
Tigerair is now planning to “capitalise on the yield improvement opportunities during the holiday season” with the launch of new routes to Lucknow and Lijiang before the end of the year.
Comments are closed.