Tigerair finally ekes out a $2.2m profit in Q3 after several loss-making quarters

Its turnaround plan is starting to bear fruit.

Tigerair reported a profit of $2.2m in the third quarter, reversing a loss of $118.5 in the same quarter last year.

Its total revenue improved by 5.9% to $182.3m, while total expenses contracted by 1.5% to S$178.2 million year-on-year.

Tigerair attributed the improved performance to stronger yield, higher load factor, and lower capacity. According to Tigerair, the results show that its difficult turnaround plan is finally bearing fruit.

“We had to make some difficult decisions in the turnaround process. Though we are not out of the woods yet, we are encouraged by the improving financial results. We are also heartened by strong shareholders’ support of our rights issue,” Lee Lik Hsin, Group CEO of Tigerair,