Tamed Tiger: More losses await, says analyst

Losses from the month-long grounding of its Australian fleet will hurt the injured Tiger even more.

DMG Research noted:

Tiger reported 1QFY12 net loss of S$20.6m versus S$1.9m in the previous corresponding period. The seasonally weaker 1Q compounded by higher fuel costs and disruptions from the volcanic ash dragged the LCC into an operating loss of S$12.0m versus an operating profit of S$0.8m in previous corresponding period. Tiger Singapore saw its operating profits fall 44% to S$7.5m while Tiger Australia doubled operating losses to S$23.2m. Its Australian fleet remains grounded, costing the LCC S$2m in costs for each week. Tiger has made efforts to win back the reassurance of passengers over its safety levels with the appointments of Chris Manning, former chief pilot of Qantas as its Safety Adviser and Gerard Yeap, SVP of Flights Ops at SIA as its executive director. We expect 2Q losses to be deeper as it will reflect losses from the month long grounding of its Australian fleet.

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