Tiger Airways's better performance was on the back of higher turnover, strong passenger growth and strict cost control. -- PHOTO: BT
LOW-COST carrier Tiger Airways has posted earnings of $1.9 million for the quarter ended June, reversing a $6 million loss a year ago.
The better performance was on the back of higher turnover, strong passenger growth and strict cost control, the airline said on Thursday.
Total first-quarter revenue for the group's two airlines in Singapore and Australia jumped 45 per cent to $145.1 million, supported by a 39 per cent increase in passenger numbers.
Because passenger traffic grew faster than additional capacity from new flights and routes, the average seat factor which is a measure of the total number of seats filled was up 1.3 percentage points to 84.2 per cent.
Group president and chief executive officer Tony Davis said he is pleased with the numbers and expects continued growth ahead.
Tiger Airways is on track to increase fleet size to 26 aircraft by March 2011, seven more than now, and also plans to partner with Thai Airways to start a new budget airline in Bangkok early next year.
