Tiger Airways expects wider Q2 losses

Victoria
By Victoria October 3, 2011 07:20

Tiger Airways expects wider Q2 losses

Tiger Airways says for the three months to September 30 it expects to post a net loss that is “markedly larger” than the S$20.6 million (US$15.6 million) loss posted in the first quarter this year. For the same quarter last year, Tiger posted a net profit of S$14.1 million. The grounding of its fleet coupled with reduced load factors and higher fuel costs, all contributed to the poor result. The suspension of its Australia arm was expected to cost about S$2 million a week but the airline now expects this to rise as it complies with conditions imposed by Australia’s aviation safety regulator for resuming operations.

Victoria
By Victoria October 3, 2011 07:20
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