Strong Growth for Tiger Airways in First Quarter 2008

Tiger Aviation has reported passenger growth of 73.7% for the three months ending 30 June 2008 compared to the same period last year. Tiger Airways Singapore managed a nett profit after tax of Sin$37.8 million for the year ending 31 March 2008.

Tiger Aviation CEO and President Tony Davis said, “Tiger Airways is pleased to announce that it has achieved a trading profit of Sin$37.8m for the past financial year. The last financial year was a very good year for Tiger Aviation as we successfully transitioned into a group structure, launched Tiger Airways Australia and our airline in Singapore achieved a substantial trading profit in its third full year of operations.”

Key highlights from Tiger Airways Singapore's 2007/08 financial performance included:

- Nett Profit after tax of S$37.8m from a Nett Loss after tax of Sin$14.3m the previous year
- Total Revenues increased by 56% to Sin$271m
- Trading Margin increased by 16.6 points from -7.8% to 8.8%
- Cash balances increased over 400% from S$3.9m to Sin$19.6m
- No increase in shareholder funds which remain at Sin$24.4m

“Even with the challenging market conditions and current oil prices we remain confident about the long term success of both our Asian and Australian based airlines. We continue to see strong demand for our low fares and we are committed to continued growth as we expand our operations in both Australia and Singapore,” Davis said.

Tiger Aviation group's first quarter Financial Year 2008/09 highlights included;

- 73.7% increase in passengers carried over previous year;
- 64.9% increase in seat capacity;
- Load factor increased by 4.1 points
- 57.8% increase in revenue;

Mr. Davis said, “The Tiger Aviation group of airlines has continued to deliver impressive year on year performance with strong increases in passengers flown and load factors for the first three months of Financial Year 2008/09. We are all very excited about the future opportunities for Tiger Airways as we continue to grow our businesses across the region.”

See other recent news regarding: Travel News Asia, Promotions, New Hotels, Tiger Airways