Tigerair’s losses down 89% to $1.7m in Q1

On back of lower operating expenses.

Tiger Airways reported that its core net loss narrowed to $1.7m in the first quarter, an 89% decline compared to the same period last year.

The lower losses were attributed to a 10.8% year-on-year decline in expenses. Although the carrier benefited from lower fuel cost, this was partially offset by a $4.1 million increase in expenses due to changes in accounting estimates for maintenance provisions and aircraft depreciation policy.

The absence of shutdown costs and losses related to Tigerair Mandala contributed to this improvement in bottom-line.

The group also reported an operating profit of $0.m in Q1, compared to an operating loss of $16.4 million recorded in the previous corresponding quarter.