Tiger Airways makes loss after grounding

Written by Your VIPTRIP Team on February 1st, 2012

Tiger Airways makes loss after grounding
News reports state that TIGER Airways Australia recorded a third-quarter operating loss of $S8.6m ($6.2m) as its parent spent its third straight quarter in the red.The result for the quarter ending December 31 compared to an operating profit of $S5.9m in the previous corresponding quarter for the Australian business and contributed to an after-tax loss of $S17.4m for Tiger Airways Group.

It was the Singapore-based group’s third straight quarterly loss.

TAG reported that group passenger numbers were down 12 per cent while capacity fell 2.7 per cent as a result of the Tiger Australia’s reduced flying program in the wake of its grounding for six weeks last year by the Civil Aviation Safety Authority over concerns about safety.

The suspension in July last year led to a major management shake-up in the airline, which is partially owned by Singapore Airlines and government investment arm Temasek Holdings.

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