Tiger Airways Group said its loss after tax for the quarter ended 30 June 2012 narrowed to $14 million compared to a $21 million loss recorded the previous year.
Total revenue for the quarter was $181 million, 1.4% higher than the $179 million recorded in the previous year. The increase was largely due to higher yield (measured in revenue per revenue passenger-kilometre) (+7.8%), offset by a 4.5% decline in capacity (measured in available seat-kilometres) and lower passenger load factor (-2.2 percentage points to 83.3%).
Total expenses increased 1.2% to $193 million as a result of an increase in average fleet size (+18%), partially offset by lower fuel cost (-3.1%) during the quarter. Cost per available seat-kilometre (CASK) increased 5.9%.
Tiger Airways said as it continues to rebuild the business with a strong focus on safety, operational excellence and customer experience, and is striving to improve on its financial performance, volatile fuel prices will, however, continue to have an impact on the financial performance of the group.
Tiger Singapore has seen healthy load factors in recent months as demand has caught up with capacity. It will continue to expand capacity through frequency increases and the addition of new routes.
Tiger Australia is planning to ramp up services by October 2012 to a level similar to that operated prior to July 2011. With the launch of its Sydney base on 1 July 2012, progressive redeployment of aircraft to Sydney will enable higher utilisation of the fleet. In addition to inaugurating the Sydney-Gold Coast service, Tiger Australia will be launching Sydney-Brisbane and Melbourne-Hobart services in the coming months.
The Mandala joint venture will continue to focus on brand presence and load factor performance.
The company is also on course to complete its investment in SEAir by August.
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