Financial Round Up
Tigerair outlook improves
February 3rd 2015
Singapore’s Tigerair has reported a S$2.2 million (US$1.63 million) profit for the fourth quarter of 2014, reversed from a net loss of S$118 million year-on-year. Read More »
The Singapore Airlines (SIA) low-cost arm said improvements in load factor, yield and overall reduction in capacity all helped raise the airline’s efficiency. Tigerair also noted that boosted interline agreements with long-haul budget carrier, Scoot, another SIA-protégé, have improved loads, revenue and customer loyalty.
However, Tigerair Group chief executive, Lee Lik Hsin, cautioned the airline was “not out of the woods yet”, but said he was encouraged by the financial results. He added Tigerair “remains cautious over the various macroeconomic uncertainties as well as the competition” and is committed to its turnaround plan, albeit on a firmer footing as a result of the latest figures.
