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NEW UPDATES Asean Affairs  6 May  2015  

Tigerair on a turnaround: Budget carrier's operating loss down 90.6% year-on-year

SINGAPORE: Tiger Airways Holdings on Tuesday (May 5) reported an operating loss of S$2.3 million in the quarter ending Mar 31, a 90.6 per cent decrease year-on-year from their loss of S$24.2 million in the same period a year ago.

Tigerair's net loss after tax fell to S$18.8 million, compared to S$95.5 million a year ago. The budget carrier attributed the improvement to stronger yield, lower cost and a higher load factor of 3.9 percentage points.

Total revenue for the quarter rose 5 per cent to S$172.2 million, from S$164 million, while total expenses fell 7.3 per cent to S$174.5 million, down from S$188.2 million.

The Singaporean carrier also noted that it would have recorded an operating profit of S$4 million if not for a revision of its aircraft depreciation policy and reassessment of maintenance provisions for leased aircraft.

Said CEO Lee Lik Hsin: “Our turnaround efforts continue to bear fruit. More than half of the recovery in operating performance came from stronger yields and load factors, while the remainder came from lower fuel price. The changes in provisions relating to our fleet will also put us on a firmer footing moving forward.”

Tigerair said that it will tackle the issue of surplus capacity in the industry by continuing to optimise its fleet size to improve yields and loads. It will also benefit from lowered oil prices as hedged oil contracts expire.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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