Tiger Airways Holdings Narrows Net Loss To $1.7 Million For 1Q16

Tiger Airways Holdings recorded an operating profit of $0.6 million in 1Q16, compared to an operating loss of $16.4 million a year ago, due to improved performance of the airline operations in Singapore.

Revenue slipped 2 percent to $168.3 million, following a capacity decrease of 7.2 percent. The consolidation of the fleet and network led to improvement in yields of 4.7 percent, while load factor fell 1.2 percentage points still remaining at a healthy level of 83.5 percent.

The absence of shutdown costs and losses related to Tigerair Mandala provided some reprieve, narrowing net loss significantly to $1.7 million, from a net loss of $65.2 million last year.

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