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Cheaper fuel lifts Tiger's earnings in Q3
Combined with higher lease rental income, net profit rises to S$6.78m from S$2.19m
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Published Fri, Jan 22, 2016 · 09:50 PM
Singapore
Cheaper jet fuel and increased lease rental income helped boost Tiger Airways' net profit for Q3 FY16 to S$6.78 million, up from S$2.19 million a year ago.
Despite lower revenue from its airline operations in Singapore, group revenue edged up 1.5 per cent to S$187.38 million, thanks to higher lease rental income from aircraft and engine leasing arrangements with Tigerair Australia and Tigerair Taiwan. Coupled with lower fuel costs, operating profit jumped to S$10.05 million, up from S$4.1 million previously.
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