Financial Round Up
Skymark and Tiger Airways report losses
June 10th 2014
Skymark Airlines’ ambitious A330 and A380 projects are one contributor to the Japanese carrier’s significantly weakened financial results for the 12 months to December 31, 2013. The airline reported an operating loss of US$25 million for the year, compared with an operating profit US$46.6 million 12 months earlier. Read More »
Tiger Airways’ announcement that it is considering a fundraising plan to improve liquidity sent its share price down by 8.5% last week, reported Bloomberg in Singapore.
The budget carrier has been unprofitable for six consecutive quarters and is now reviewing options including aircraft grounding, order cancellations and investments in other carriers. Earlier Tiger’s share price had surged amid speculation that its largest shareholder, Singapore Airlines, was ready to increase its holding in the LCC.
