Wider operating loss clipped Tigerair's wings in 1Q

It also posted $51m exceptional losses.

According to DBS Tigerair Singapore recorded an operating loss of S$29.4m in 4QFY14, compared to an operating profit of S$21.5m in 4QFY13.

Here's more:

Poor load factors (- 9ppt y-o-y to 74%) coupled with weak yields (-16% y-o-y) and higher unit costs (CASK up 2.2% y-o-y) resulted in a very disappointing quarter overall. In addition, associates in Australia and Indonesia continued to be loss-making. 

On top of this, Tigerair also recorded exceptional losses to the tune of $51m in 4QFY14 which included a S$25m provision related to planned aircraft grounding in FY15 and S$27m for further impairment of investments in associates. We reckon Tigerair has now fully written down its Australian stake.