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”. [1549 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
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