Tiger Airways
Tigerair, established in 2004, is a leading Singapore-based budget carrier that offers affordable travel options and a seamless customer experience.
See below for the Latest Tiger Airways News, Analysis, Profit Results, Share Price Information, and Commentary.
The Tiger's turnaround: Tiger Airways posts $14.1m profit for Q2
The budget airline’s revenue for the quarter is a $16.4 million improvement over the $2.3 million loss recorded a year ago. The improvement in Tiger's books can be attributed to higher turnovers, strong passenger growth and strict control of unit costs. Growth in passenger volume outstripped seat capacity growth of 21.9%, while the total Cost per Available Seat Kilometre (CASK) went down 3.1% compared to the previous year. Tony Davis, President and Group CEO, said: “We are pleased with the second quarter results posted by the Group. Achieving a 10% net profit margin, 35% revenue growth and lower unit costs, on significant capacity growth of 22% is a solid result. “Forward bookings remain strong, particularly for the peak travel period between December and February. To capitalise on this peak period, Tiger Airways Australia is increasing its fleet to 12 aircraft by the financial year-end. “The airlines continue to focus on maximising profitability through the generation of additional ancillary revenue streams. In percentage terms, Tiger Airways is currently the fifth highest generator of ancillary revenue globally, and our aim is to be in the world’s top three airlines. During the quarter, we introduced two new ancillary products – boardmefirstTM, our priority boarding service, and our new flexible ticket option. Both products have been popular with our passengers. In addition, we have recently introduced Stripes, a membership programme that provides members priority access to promotions and the lowest fares. “We continue to work with Thai Airways on the establishment of our low cost business in Thailand, to be called Thai Tiger. “Finally, we are pleased to have recently won two awards; the Low Cost Airline of the Year award from the Centre for Asia Pacific Aviation, and the Most Transparent Award in the New Issues Category from the Securities Investors Association of Singapore” said Tony Davis.
The Tiger's turnaround: Tiger Airways posts $14.1m profit for Q2
The budget airline’s revenue for the quarter is a $16.4 million improvement over the $2.3 million loss recorded a year ago. The improvement in Tiger's books can be attributed to higher turnovers, strong passenger growth and strict control of unit costs. Growth in passenger volume outstripped seat capacity growth of 21.9%, while the total Cost per Available Seat Kilometre (CASK) went down 3.1% compared to the previous year. Tony Davis, President and Group CEO, said: “We are pleased with the second quarter results posted by the Group. Achieving a 10% net profit margin, 35% revenue growth and lower unit costs, on significant capacity growth of 22% is a solid result. “Forward bookings remain strong, particularly for the peak travel period between December and February. To capitalise on this peak period, Tiger Airways Australia is increasing its fleet to 12 aircraft by the financial year-end. “The airlines continue to focus on maximising profitability through the generation of additional ancillary revenue streams. In percentage terms, Tiger Airways is currently the fifth highest generator of ancillary revenue globally, and our aim is to be in the world’s top three airlines. During the quarter, we introduced two new ancillary products – boardmefirstTM, our priority boarding service, and our new flexible ticket option. Both products have been popular with our passengers. In addition, we have recently introduced Stripes, a membership programme that provides members priority access to promotions and the lowest fares. “We continue to work with Thai Airways on the establishment of our low cost business in Thailand, to be called Thai Tiger. “Finally, we are pleased to have recently won two awards; the Low Cost Airline of the Year award from the Centre for Asia Pacific Aviation, and the Most Transparent Award in the New Issues Category from the Securities Investors Association of Singapore” said Tony Davis.
Tiger Airways to launch its biggest ever "Winter" schedule
The carrier targets up to 20% more seats compared to last year with additional routes.
Tiger Airways unveils double daily flights to Jakarta
Rights secured for second daily flight with improved schedule, which will start on 11 Jan 2011.
Tiger Airways launches membership card
Tiger Airways has soft launched its $29.95 Stripes membership card that targets to give members priority access to special fares and promotions.
Tiger Airways reports 43% increase in passengers
5.6mln passengers chose to fly with carrier from October 2009 to September 2010.
Tiger Airways secures French agency's backing to purchase 9 aircrafts
Total number of owned aircraft in fleet will increase to 11 through deal with StanChart.
Tiger Airways passengers up 47% to 5.5mln
Load factor from September 2009 to August 2010 increased by 5 percentage points to 86%.
Tiger Airways to suspend 2 under-performing Australian flights
Operations would be stopped temporarily on November 10 and would resume if demand picks up.
Tiger Airways to land in Manila on 31 October
Tiger’s low fares now accessible to all of Philippines with Manila as gateway, aside from Clark.
Tiger Airways increases Malaysia distribution network with e-pay
Customers in Malaysia can pay cash at over 14,000 e-pay outlets, beginning with 4,000 Petronas kiosks.
Tiger Airways' passengers up 42% in July 2010
Carrier had 5.4mln passengers from August 2009 to July 2010, a 51% increase over last year.
Tiger Airways profit rises to $1.9mln
$7.4 million improvement driven by strong passenger growth, unit revenue increases, and continued strict cost control.
Tiger Airways celebrates 15mln passengers with 15-cent fares
Flights to Bangkok, Jakarta, Manila (Clark), Haikou and Macau priced at $15 plus taxes.
Tiger Airways appoints Mr Chang Long Wee as Non-Executive Director
Ms Lim Siew Lay was also appointed while Mr Lee Chong Kwee was re-elected following the retirement of Mr Chan Hon Chew, Mr Jack Koh and Mr Maurice Mason.
Tiger Airways launches 45-cent fares to Malaysia and Thailand
Singapore’s budget carrier gives passengers another reason to celebrate for the 45th National Day.
Tiger Airways bested APAC airlines in ancillary revenues global ranking
Providing the only Eastern challenge to older and bigger Western carriers, the airline achieved high scores for its budget fares.
Tiger Airways soon to land in Taipei
Singapore’s low-cost airlines continue to expand in Greater China with the addition of Taipei, when flights commence on 11/1/11.