Business News
Tiger Airways rebounds with third-quarter profit
Feb 25, 2010, 13:04 GMT
Singapore - Singapore's Tiger Airways Thursday reported a recovery in profit for the third quarter, citing improved passenger numbers and load factor.
The company's net profit for the quarter ending December 31, 2009 was 14.1 million Singapore dollars (10 million US dollars), rebounding from a loss of 7.7 million Singapore dollars a year ago.
Third-quarter revenue rose by 29.4 per cent to 139.5 million Singapore dollars from 107.8 million Singapore dollars previously.
The airline's combined nine-month net profit was 5.9 million Singapore dollars, recovering from a loss of 32.9 million Singapore dollars for the corresponding period of 2008.
The nine-month revenue was 345.6 million Singapore dollars, up 18.7 per cent year-on-year from 291.2 million Singapore dollars, it said.
The Singapore-listed airline said it would continue to control costs and offer lower fares as the Asia-Pacific market improves.
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