Losses Bite At Tiger Airways

Update 9/12/09: Tiger has just disclosed losses of A$50.1m in the Australian market for the 12 months ending March 31, 2009, much higher than expected – blaming startup costs etc…. It’s being reported in the Sydney Morning Herald that regional Low Cost Carrier Tiger Airways has suffered a major reversal of fortune with parent company Tiger Aviation losing about $S28 million for the year to March in contrast to a $S10 million profit the previous year, according to results posted by 49% shareholder Singapore Airlines. Tiger Airways has had issues in the Australian market, orginally ignoring the massive Sydney market in preference for obscure and untested city pairs. It has changed tack over the past six months now flying more high traffic routes including Sydney-Melbourne. Original story…

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