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
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
RBA to keep key rate at 12-year high as inflation stirs anew
Buffett praised Apple after trimming it, drops Paramount stake
Westpac net profit falls 16%, announces additional A$1 billion buyback
Worst days for China’s stock market may be over
Emerging-market optimism dashed by Fed as currencies, bonds sink
LHN warns H1 2024 net profit could decline by 28.6%