TigerAir Australia reports Q3 loss

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By TESTCustomwebLP TESTCustomwebLP January 24, 2014 11:56

TigerAir Australia reports Q3 loss

TigerAir Australia has posted a loss of $16 million for the third quarter, which has contributed to a loss of $S18.5 million at Tiger Airways Holdings that owns 40% of the Australian carrier.

The Australian carrier lost $S18.25m in the second quarter bringing its first-half loss to almost $S37m.

Virgin owns the remaining 60% of the airline but has yet to declare the final total is has lost through the venture.

TAH’s third-quarter loss included exceptional charges of $88.3m, including a $30.3m loss for the disposal of Tigerair Philippines to Cebu pacific, and compared with a net profit of $S2m for the same period the previous year.

Revenue at Tigerair fell by 2.9% to $S168m as yields fell 11.3% and load factors dropped to 75.8%.

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By TESTCustomwebLP TESTCustomwebLP January 24, 2014 11:56
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