Tiger Airways Posts Narrower Q4 Loss

Singapore's Tiger Airways Holdings Ltd. TAIRF reported a narrower net loss for the fiscal fourth quarter. Tiger Airways posted a quarterly net loss of 18.8 million Singapore dollars (US$14 million), versus a year-ago loss of S$95.5 million. Its revenue gained 5 percent to S$172 million. The company posted an operating loss of 2.3 million Singapore dollars, versus a year-ago loss of 24.2 million Singapore dollars. Total expenses shrank 7.3 percent to 174.5 million Singapore dollars. Traffic slipped 6.1 percent, while passenger load factor widened to 79 percent from 75.1 percent. Passenger yield increased to 7.32 Singapore cents, compared to 6.54 Singapore cents. CEO Lee Lik Hsin said, "Our turnaround efforts continue to bear fruit. More than half of the recovery in operating performance came from stronger yields and load factors, while the remainder came from lower fuel price."