Cheaper fuel lifts Tiger's earnings in Q3

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.