Tiger Airways Holdings Ltd (Tigerair) (Singapore) reported an operating loss of $24.2 million (all amounts in Singapore dollars) for the fiscal fourth quarter ended 31 March 31, 2014, compared to an operating profit of $12.7 million recorded in the previous corresponding quarter.
Total revenue declined by 32.7% to $161.9 million in the fourth quarter, while total expenses fell 18.3% to $186.1 million year-on-year, mainly due to the exclusion of Tigerair Australia from the Group’s results, as the airline ceased to be a subsidiary from July 8, 2013.
Loss after tax of $95.5 million for the fourth quarter was largely attributed to $52.4 million in exceptional charges and $21.5 million in share of losses of associate and joint venture. Exceptional charges comprised a $25.0 million provision for a planned grounding of eight aircraft and a $27.4 million impairment of associate, while the share of losses of associate and joint venture included an $11.9 million provision relating to Tigerair Mandala. These exceptional charges and provisions, which amounted to $64.3 million, demonstrate the Group’s resolve to re-set its strategy and consolidate its capacity.
For the full fiscal year ended March 31, 2014, the Group recorded an operating loss of $52.0 million compared to an operating profit of $7.3 million year-on-year. Group loss after tax widened to $223.0 million, compared to the previous year’s loss after tax of $45.4 million.
Operations Review (fourth quarter)
Despite an increase in traffic volume (+13.4%), Tigerair Singapore’s revenue for 4Q declined by 4.5% to $159.0 million, as yield fell 16.3% and load factor dropped 9.1 percentage points to 75.1%. Unit cost rose by 2.2% as the increase in expenses (+29.9%) outpaced capacity growth (+27.1%). Consequently, Tigerair Singapore recorded an operating loss of $29.4 million for the quarter compared to an operating profit of $21.5 million a year ago.
The company warned of a bleak outlook and was re-assessing its investment in Tigerair Mandala, the group’s Indonesian venture according to Reuters.
Read the full report from Reuters: CLICK HERE
Top Copyright Photo: Olivier Gregoire/AirlinersGallery.com. The pictured Airbus A320-232 F-WWDS (msn 4973) became 9V-TRE on delivery.
Image Below: Tigerair. Tigerair in March 2014 signed an Airbus deal to bring 37 new fuel-efficient A320neo aircraft from 2018 onwards. The new aircraft will be powered by a Pratt & Whitney 1100G-JM engine and equipped with large Sharklet wing tips, these new-generation aircraft deliver 15% greater fuel efficiency than the current A320ceos.
Tigerair (Singapore) has signed a Memorandum of Understanding (MOU) with Airbus for the purchase of up to 50 A320neo aircraft for future fleet renewal and growth. The deal covers 37 firm orders plus 13 options. The aircraft will be powered by Pratt & Whitney PW1100 engines and will be operated by the airline across its Asia-Pacific route network.
Cebu Pacific Air (Cebu Air, Inc) (Manila) has started negotiations to possibly acquire rival Tigerair Philippines (formerly SEAIR) (Manila and Clark) according to the Philippine Daily Inquirer. If the two parties can reach agreement, the acquisition would need to pass several regulatory hurdles including the Philippines CAB.
Tigerair Philippines was formed when Tigerair (Tiger Airways) of Singapore acquired 40 percent of SEAIR (formerly Asian Wings) and renamed the airline.
Read the full story: CLICK HERE
Top Copyright Photo: Michael B. Ing/AirlinersGallery.com. Cebu Pacific Air’s (Cebu Pacific Air.com) Airbus A320-214 RP-C3273 (msn 5498) with Sharklets approaches Bangkok (Suvarnabhumi) for landing.
Bottom Copyright Photo: Kok Chwee K.C. Sim/AirlinersGallery.com. Airbus A320-232 RP-C6319 (msn 5188) with “It’s more fun in the Philippines” lands in Singapore.
The complete Tigerair Route Map including Tigerair Philippines:
Tiger Airways (Singapore) has been rebranded as Tigerair and modified its color scheme. The first Airbus A320 has been modified.
The airline issued this statement:
Over the years as we expanded, we found that people travel to explore new destinations, to escape from their busy day-to-day lives or to connect and bond with family and friends. We recognized how much emotions and memories play a role in travel. Our refreshed brand represents this.
We embrace the simple belief that travel is about enabling great experiences and memories. Affordable air fares empower people to pursue their dreams which lead to relaxation, joy and great new experiences.
We aspire to be the leading airline and travel partner connecting people across Asia Pacific and our new brand reflects this aspiration.
Our new logo is simplified to depict the personality of the new Tigerair brand — warm, passionate and genuine.
The rounded fonts depict friendliness while the two dots, the first in grey and the second in orange, symbolises Tigerair’s role in connecting our customers from one point to another. The different coloured dots also depict a friendly wink.
The orange semi-circle acts as a subtle reference to a tiger’s tail, as well as a smile, representative of the passion and commitment in everything we do.
All photos and images: Tigerair.
Tiger Airways (Singapore) will start nonstop flights between Hong Kong and Jakarta on July 25. Tiger Airways will fly to the capital of Indonesia four times weekly on Monday, Tuesday, Thursday and Saturday, with an increase to daily flights from September onwards.
Tiger Airways has been rapidly expanding its network in Indonesia this year. Domestically within Indonesia, the airline flies between Jakarta and key cities including Bali (Denpasar), Medan, Surabaya, Padang, Pekanbaru and Yogyakarta.
Top Copyright Photo: Jens Polster/AirlinersGallery.com All others from Tiger Airways). Airbus A319-132 9V-TRB (msn 3801) prepares to land at Bangkok.
Tiger Airways (Tiger Airways Holdings Limited) on June 4 finalized the sale and purchase agreement to acquire a 40% stake in South East Asian Airlines (SEAir), Inc. This stake will be acquired from existing foreign shareholders at $7 million (US), less liabilities to be confirmed in a due diligence review. The investment will be held through Tiger’s wholly owned subsidiary, Roar Aviation II Pte. Ltd.
The investment in SEAir is Tiger’s second such joint venture in Asia. Tiger acquired a 33% stake in
Mandala Airlines (Jakarta) of Indonesia in January 2012.
SEAir currently operates two Airbus A319 aircraft leased from Tiger Airways under the Tiger Partner Airline
program. In addition, there are plans to expand the fleet to five aircraft within this financial year with the addition of three A320 aircraft.
SEAir will be introducing new routes to its network. The airline will adopt Tiger’s business model. This includes offering attractive fares to international and domestic destinations within a five-hour flying radius from the Philippines.
Copyright Photo: Jay Selman.
SEAir Domestic Route Map:
SEAir International Route Map:
Mandala Airlines (Jakarta) reactivated its AOC last month after Tiger Airways (Singapore) completed its acquisition of the 33 percent of the stock in January. Tiger has already leased Mandala two Airbus A320s. Operations will restart as Tiger Airways Indonesia in April 2012 according to this report by Reuters.
Mandala suspended operations on January 13, 2011.
Read the full report: CLICK HERE
Copyright Photo: John Adlard. The colorful Mandala name and brand will be retired.
Tiger Airways (Singapore) has finalized its acquisition of a 33 percent share in the grounded Mandala Airlines (Jakarta), becoming the second largest shareholder after the Saratoga Group (51.3 percent). The creditors and previous owners will hold the remaining 15.7 percent share.
Mandala will resume operations this year under the Tiger Airways low-cost model according to this article by The Economic Times.
Read the full article: CLICK HERE
Copyright Photo: John Adlard. This intricate Mandala design will fade into aviation history as the renewed carrier will also adopt the Tiger Airways brand.
Tiger Airways (Singapore) has dropped plans for a LCC joint venture with Thai Airways International (Bangkok) due to the failure to obtain the necessary Thai government approvals.
Read the full report from Reuters: CLICK HERE
Copyright Photo: Michael B. Ing.
Tiger Airways (Singapore) Slide Show: CLICK HERE
Mandala Airlines (Jakarta) previously suspended scheduled operations on January 13, 2011. In May 2011, Tiger Airways Holdings (Singapore) and Saratoga Investama, an Indonesian strategic investment company owned by Sandiaga Uno, announced plans in a filing in the Singapore Stock Exchange to relaunch the airline. The deal was signed and approved on September 24.
Saratoga own controls 51 percent of the stock, followed by Tiger Airway’ 33 percent, with the remaining 16 percent owned by the airline’s existing shareholders and the creditors through a debt-to-equity agreement.
Mandala will relaunch operations within 90 days using the Tiger Airways LCC model using Airbus A320 aircraft.
Read the full report from The Jakarta Post: CLICK HERE
Mandala Slide Show: CLICK HERE
Copyright Photo: John Adlard. Please click on the photo for information on the reborn airline.
Thai Airways International Boeing 747-4D7 HS-TGG (msn 33771) HKT (Wim Callaert), originally uploaded by Airliners Gallery.
Thai Airways International (Bangkok) is now consider going alone with plans to introduce a new low-cost carrier according to this article by Flightglobal.
Previously the airline partnered with Tiger Airways with the proposal to start Thai Tiger Airways in the first quarter of 2012. However this proposal remains mired in the formative stages.
Read the full article: CLICK HERE
Copyright Photo: Wim Callaert. Please click on the photo for additional information.
Tiger Airways (Singapore) reported its first quarterly loss since the airline went public in January 2010.
For the fiscal first quarter ending on June 30, the group which operates two carriers (Tiger Airways Singapore and Tiger Airways Australia) posted a net loss of $17 million.
Read the full report from The China Post: CLICK HERE
In other news, Tiger Airways (Australia) remains grounded until at least August 11.
Copyright Photo: Jens Polster. Please click on the photo for additional information.
Visit our new website: CLICK HERE
Tiger Airways Route Map:
Mandala Airlines Airbus A320-233 PK-RMJ (msn 1482) SUB (John Adlard), originally uploaded by Airliners Gallery.
Tiger Airways (Singapore) will partner with investment firm Saratoga Capital to revive defunct and grounded Mandala Airlines.
Read the full story from the Jakarta Globe: CLICK HERE
Copyright Photo: John Adlard. Please click on the photo for additional background details.
SEAIR-South East Asian Airlines (Manila) and Tigers Airways (Singapore) have received a setback from the Civil Aeronautics Board (CAB) of the Philippines. The CAB has issued a cease and desist order stopping SEAIR and Tiger Airways from adding domestic Manila-Cebu and Manila-Davao flights due to start on May 27. The CAB claimed advertisements for the new flights used the Tiger Airways brand. The CAB has taken the position that domestic routes should be reserved for Philippine-owned carriers.
On December 16, 2010 SEAIR and Tiger Airways entered into an agreement. Under the agreement, Tiger Airways leased two Airbus A319s to SEAIR. SEAIR is operating the two aircraft from Clark in an all-white condition with SEAIR titles. The aircraft are flown by SEAIR’s crews. Seats on the flights are marketed by Tiger for SEAIR.
SEAIR started operating the Airbus A319s on the Clark-Singapore route on December 16, 2010 and is due to start Clark-Macau on May 27, 2011.
However other Philippine airlines including Air Philippines, Philippine Airlines, Cebu Pacific and Zest Airways have protested the arrangement.
Read the full story from ABS CBN: CLICK HERE
SEAIR’s domestic routes from Manila:
Tiger Airways (Singapore) and Thai Airways International (Bangkok) have signed a new Shareholders Agreement creating Thai Tiger (Bangkok), a new low-cost airline in Thailand. As a result, Thai is expected to back-off on any further investments in Nok Air.
Copyright Photo: Jens Polster. Please click on the photo to read the full story.
Tiger Airways (Singapore) has taken a 32.5 percent share of partner airline SEAIR (South East Asian Airlines) (Manila-Clark). The relationship will be expanded on March 14 when SEAIR adds the Clark-Hong Kong route using Tiger Airways’ Airbus A320s.
Copyright Photo: Michael B. Ing. Please click on the photo for the full details of this growing relationship.
Tiger Airways route map:
Tiger Airways Holdings Limited (Singapore) announced its results for the quarter ended 31 December 2010, the third quarter of the FY2010/11 financial year.
Profit before tax for the quarter ended 31 December 2010 was $30.2 million (all amounts are in Singapore $), an 85.3% increase over the $16.3 million profit recorded for the same quarter in the prior year. The Group recorded an 18% profit before tax margin for the quarter.
Revenue growth of 22.2% from $139.5 million to $170.4 million was ahead of both passenger and seat capacity growth of 13.4% and 13.0% respectively. Cost per Available Seat Kilometre (CASK) excluding fuel and foreign exchange difference reduced 3.2%. The Group load factor was 88.0% for the quarter.
Profit before tax for the 9 months ended 31 December 2010 was $46.8 million, an increase of 559% over the $7.1 million profit recorded in the 9 months to 31 December 2009.
From the Singapore base, new services were launched to Trichy and Trivandrum in India and to Manila during the quarter, while in Australia Tiger rolled-out the third domestic base at Avalon Airport. In December Tiger established the Airline Partner Program with South East Asian Airlines (SEAir) based out of Manila (Clark), which will provide significant operating cost savings going forward. Tiger is exploring opportunities to expand this partnership on routes beyond the current Manila (Clark) – Singapore route.
Copyright Photo: John Adlard. Please click on the photo for additional details about the Australian operation.
Tiger Airways (Singapore) reported a $1.4 million (US) profit in its fiscal first quarter.
Read the full report:
Copyright Photo: Michael B. Ing. Airbus A320-232 9V-TAE (msn 2724) prepares to land at Singapore.
Thai Airways International (Bangkok) and a domestic partner will own 51 percent of Thai Tiger Airways Pte (Bangkok) which will commence low-fare operations in March 2011. Tiger Airways Holdings (Singapore) will own 49 percent of the new LCC. Thai Tiger Airways will fly domestic and international routes with Airbus A320s of up to five hours. The new joint venture is designed to go after rival Thai AirAsia. It is unclear what will happen to Nok Air in which Thai owns 39 percent.
Read the full Bloomberg story:
Copyright Photo: Michael B. Ing. Tiger Airways’ Airbus A320-232 9V-TAE (msn 2724) prepares to land at the SIN base.
Tiger Airways (Singapore) produced a S$28.2 million net profit for its fiscal year ending on March 31.
Read the full report:
Tiger Airways (Singapore) is looking at adding another Asian subsidiary.
Tiger Airways (Singapore) is acquiring its first two owned (it previously leased) Airbus A320s this month and February. This will permit the company to launch the Singapore-Hong Kong route in February.
Tiger Airways (Australia) (tigerairways.com) (subsidiary of Tiger Airways Singapore) (Melbourne) will launch the prestigious Melbourne-Sydney route on July 3 with four daily roundtrips. This is bound to create a new fare war as the existing carriers will move to protect this lucrative route. Tiger will offer a A$68 one-way fare between the two cities.