Tiger Aviation Group, which is the parent company of the Australian and Singaporean operations of Tiger Airways, is estimated to have posted a S$28m (A$21.6m) loss for the financial year to March.
The privately owned low cost airline group is yet to lodge its annual accounts with Singaporean authorities, but equity accounting from Singapore Airlines, which owns 49 per cent of Tiger, led to the estimate, as reported by the Sydney Morning Herald. The newspaper also noted that SIA has now stopped accounting for its share of losses at Tiger as they have now exceeded its original S$39.2m (A$30.3m) investment.
This content is available exclusively to Australian Aviation members.
To unlock all Australian Aviation magazine content and again unlimited access to our daily news and features, become a member today!
A monthly membership is only $5.99 or save with our annual plans.
PRINT
See benefits
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
MOST POPULAR
PRINT + DIGITAL
See benefits
- Unlimited access to all Australian Aviation digital content
- Access to the Australian Aviation app
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Access to our Behind the Lens photo galleries and other exclusive content
- Daily news updates via our email bulletin
DIGITAL
See benefits
- Unlimited access to all Australian Aviation digital content
- Access to the Australian Aviation app
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Access to our Behind the Lens photo galleries and other exclusive content
- Daily news updates via our email bulletin
Tiger Airways Australia is understood to be still losing money, while its Singaporean operations may have also dipped into a loss due to the poor economic conditions and tough competition with other carriers. Nevertheless, Tiger Airways Australia is still expected to take its eighth A320 early next year, which will allow it to expand frequencies and its route network.