Tiger Airways breaks streak of losses with $20.8m profit

Finally, after 6 quarters in a row.

According to OCBC, Tiger Airways finally turned in a profitable quarter, after reporting six consecutive quarters of losses. For 3Q13, the group saw revenue jump 47.1% YoY

(+25.9% QoQ) to S$247.7m following increases in passenger demand, outpacing the growth in operating expenses, which grew 26.7% YoY to S$229.8m (+12.4% QoQ).

Here's more from OCBC:

This led to an adjusted operating profit of S$20.8m for the quarter versus a loss of S$9.8m and S$7.9m for 3Q12 and 2Q13 respectively.

The turnaround for the Group was largely attributed to the stellar performance by Tiger Singapore during the quarter as Tiger Australia continued to suffer yield deterioration from intense competition.

We view this set of results favourably as revenue growth met our expectations, and TGR’s first net profit validates our turnaround view for 2H13.

We will be speaking to management later this morning but raise our fair value from S$0.81 to S$0.86 in the meantime.

Follow the link for more news on

Tiger Airways

Also Read

Singapore Airlines Group sees 7.9% rise in September passenger volume

CAAS and WAI-SG partner to promote aviation careers for young women

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit