Tiger Airways posts small Q3 profit, sees weak outlook

[alberttky 0]

SINGAPORE: Budget carrier Tiger Airways Holdings Ltd, one-third owned by Singapore Airlines Ltd, reported a third quarter net profit of S$2mil (US$1.6mil), the first time in seven quarters it made money.

 

Despite a boost from its Singapore business, Tiger expects its operating performance to be weaker in the fourth quarter and forecast an operating loss for the year to March 2013, said the carrier, which has associate airlines in Indonesia and the Philippines.

 

After taking charge in August, new group chief executive Koay Peng Yenstruck a deal to sell a stake in its loss-making Australian unit and entered into other partnerships, but faces a big challenge in a fiercely competitive South-East Asian market.

 

“We are encouraged by the turnaround in this quarter,” Koay said in the results statement yesterday. “However, we are mindful that the September to December period is traditionally the strongest quarter for the air travel industry, and this has also contributed positively to our performance.”

 

Budget airlines led by AirAsia and privately-held Lion Air have placed massive aircraft orders as they bet on the region’s expanding middle class demanding more air travel for years to come.

 

Tiger reported a third quarter profit compared to a net loss of S$17.4mil a year earlier. Its nine-month loss contracted to S$30mil, from S$87.9mil a year earlier.

 

Shares in Tiger have been steady over the past three months and have edged up only slightly over the past year. – Reuters

 

http://biz.thestar.com.my/news/story.asp?file=/2013/1/25/business/12623263&sec=business

[H C Chai 4]

Not sure if this is the appropriate thread but I don't want to create a new one just to ask a question...

 

I see that Tiger Airways is not selling any seats on SIN-KCH-SIN from 01 July 2013. Does this mean they are pulling out of KCH?

[alberttky 0]

Hmmm... interesting. I always thought that the SIN-KCH vv market is not big enough to support that many daily flights.

 

My sources in Tiger tells me that the "new" CEO is on an aggressive re-branding campaign. I won't be surprised if re-looking at their network is part of the exercise.

[Mulyadir Fitri 0]

AK killed the market for others I guess. They are now doing double daily and even mounts extra flights for the upcoming June school holidays

[Kelson 0]

Not sure if this is the right place to post this too..

 

So after TR dropped SIN-KCH, MI increases its frequency into KCH.

 

Singapore Kuching Increase from 3 to 4 weekly, new flight on Day 4

MI372 SIN0815 0945KCH 319 2

MI378 SIN1810 1940KCH 32S 457

 

MI371 KCH1025 1150SIN 319 2

MI377 KCH2025 2150SIN 32S 457

 

Source: http://airlineroute.net/2013/07/23/mi-w13/

 

So now there's 2x/day for AK and MH, and 4x/week for MI

 

Seems like the FSC are doing pretty well on this route. Wonder why did TR pulled out.

Edited July 24, 2013 by Kelson

[alberttky 0]

 

 

 

Seems like the FSC are doing pretty well on this route. Wonder why did TR pulled out.

Guess TR wants to utilize the aircraft on better performing route.