Tiger Singapore's operating profit crashes 49% to S$4m
But OCBC sees clear skies ahead in 1QFY13 when Tiger is no longer burdened with excess aircraft.
Here's more from OCBC:
Tiger Singapore’s revenue in 1QFY13 grew 24% to S$138m but operating profit shrank 49% to S$4m. However, this heralds Tiger Singapore returning to profitability for the first time since TGR’s flying restrictions in Australia were imposed last year.
Furthermore, Tiger Singapore’s operating profit in 1QFY13 bodes well for the rest of FY13 since it is no longer burdened with excess aircraft, allowing it to moderate its capacity expansion in FY13.