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Tiger Singapore takes off with 30% balloon in traffic
That's for the last two months.
According to DBS, Tiger Singapore has been having steady success in growing its traffic. With the introduction of new routes and increased frequencies to popular destinations, Tiger Singapore’s traffic has been growing at 30%+ y-o-y in the last two months, while maintaining robust load factors of close to 85%.
This demonstrates the group’s renewed growth push in its more profitable Singapore operations, given that Tiger Australia operations have stabilised now. The robust operating data in recent months augurs well for Tiger Singapore's profitability in the peak season quarter (3Q-FY13) and beyond.
Here's more from DBS:
Our investment outlook is lifted by a more positive outlook for Asian growth, driven by a rebound in China, which is enough in itself to drive faster growth in Asia. We are looking at growth returning to 9% in China and 6% in Asia-10, which should help boost air traffic in the region.
With more Intra-Asian FTAs being announced and the ASEAN open skies policy expected to be implemented In 2015, Singapore should emerge as a key regional hub, and Tiger is well positioned to ride on this trend, with its portfolio of airlines in Singapore, the Philippines and Indonesia.
The group recently announced the proposed divestment of a 60% stake in Tiger Australia to Virgin Australia, which we view as a positive move to tackle the challenging competitive landscape in the Australian domestic sector.
However, this transaction is subject to shareholder and regulator approvals. It might take a while to fruition. Meanwhile, we continue to look forward to a turnaround in earnings for Tiger Airways group in the coming quarters.
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