Tiger Airways reverses loss to post S$2.2m profit for Q3 FY2015

TIGER Airways Holdings on Monday posted a net profit of S$2.19 million for its third quarter ended Dec 31, 2014 (Q3 FY2015), reversing a net loss of S$118.5 million a year ago.

Revenue for Q3 FY2015 came up to S$182.26 million, up by some 6 per cent from last year's S$172.13 million. This was achieved on the back of stronger yield, higher load factor and lower capacity, said the company in a statement on Monday morning.

Earnings per share were 0.2 Singapore cent for the quarter, up from negative 12.02 Singapore cents a year ago. No dividend has been declared for Q3 FY2015.

The group in December raised net proceeds of about S$227.4 million through a rights issue. This, said the company, has led to a strengthening of the group's balance sheet and will place the group on a firmer footing to fully execute its turnaround plans. It remains vigilant over the macro-economic uncertainties and intense competition, said Tiger Airways.