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Tigerair: 1Q15 Net Loss Doubled To S$65.2 Million.
23 Jul 2014 18:04Tiger Airways Holdings Limited has reported an operating loss of $16.4 million for the quarter ended 30 June 2014, compared to an operating loss of $6.2 million recorded in the previous corresponding quarter. Total revenue declined by 28.4% to $169.0 million in 1QFY15, while total expenses fell 23.5% to $185.4 million year-on-year. The contraction is mainly due to the exclusion of Tigerair Australia from the Group's results, as the airline ceased to be a subsidiary from 8 July 2013. Loss after tax widened to $65.2 million compared to $32.8 million a year ago. During the quarter, share of loss in P.T. Mandala Airlines amounted to $35.3 million. In addition, the Group recorded a $14.6 million provision for Mandala's shutdown costs as the airline ceased operations from 1 July 2014...
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Source: ShareInvestor Express
