Tiger Airways' Aussie arm pounces with 108% passenger carriage growth

Load factor is at 87%.

According to DBS, Tiger Airways reported a good start to CY-2013, with its January operating statistics continuing the positive momentum from recent months.

Overall, passenger carriage grew by 34% y-o-y to 1,013m p-km with a 9ppt improvement in load factor to 84%.

Tiger Singapore registered a 23% y-o-y growth in passenger carriage in January 2013, to 722m p-km, with a 10ppt improvement in load factor to 84%.

Tiger Singapore continues to utilise its fleet much more efficiently than a year ago, when underutilisation of fleet in the wake of the Australian suspension had caused a dip in load factors and earnings. 

Here's more from DBS:

We believe Singapore operations are now well on track to remain solidly profitable at the operating level in 1Q-FY13.

Tiger Australia meanwhile registered a 108% y-o-y increase in passenger carriage to 281m p-km, with a high load factor of 87%, compared to 84% a year ago.

Even more impressive is the m-o-m growth of 9% in traffic in January, given that December is traditionally the peak traffic month, and there was some disruption in air traffic in late January from Cyclone Oswald.

The encouraging data from Tiger Australia shows that the brand continues to regain acceptance down under. Tiger Australia will be adding new routes to Coffs Harbour and Alice Springs in the coming months to expand its offerings.

Based on the operating statistics, we believe both cubs remain on a solid footing for earnings improvements in coming quarters and Tiger Airways remains on course to return to full profitability in this calendar year.