Tiger Airways profitable in Dec-2009 quarter, as unit revenues and passenger grow. Third "cub" soon?

Newly-listed Tiger Airways Group reported a recovery in profitability in the three months ended 31-Dec-2009, with Group President and CEO, Tony Davis, stating he was “pleased” with the “strong” financial results in the quarter, driven by profitability and traffic growth (+54% to 1.3 million passengers) across both its “cubs” (a term the carrier uses to refer to its two operating airlines in Singapore and Australia), increased ancillary revenues and a focus on cost containment. He added, “the result demonstrates that we have the right model in the right markets”. [1557 words]

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This report contains the following subheadings:

• Return to profitability with operating profit of USD17 million; net profit of USD10 million
• Tiger Airways Australia profitable for two successive quarter, following losses in FY2008/09
• Declining unit costs, but a way off AirAsia levels
• Average fare down, but RASK up in Dec-2009 quarter
• 2010 passenger traffic already exceeding FY2009 results
• Small, yet improving cash balance
• Pushes forward fleet growth plans
• Network growing too: India and China in focus
• Outlook: Expansion the strategy with continued focus on cost containment and profitability; looking at a third airline? 

This report contains the following charts and tables:

• Tiger Airways financial highlights for three months ended Dec-2009 
• Tiger Airways cost growth (%): Three months ended Dec-2009
• Tiger Airways operating costs per seat: FY2007 to 9m2010 
• Tiger Airways financial highlights for three months ended Dec-2009 
• Tiger Airways average fare per passenger: FY2007 to 9m2010
• Tiger Airways ancillary revenue (SGD) per passenger: FY2007 to 9m2010
• Tiger Airways passenger numbers (000s) and load factors (%):  FY2005 to 9m2010 
• Tiger Airways share price growth: Jan-2010 to Feb-2010
• Tiger Airways’ fleet plan: 2009 to 2016E
• Tiger Airways Route Map: Feb-2010