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.
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.