Shares in Singapore-based budget carrier Tiger Airways slumped fell 8% to a one-month low after it posted a loss of £45 million for three months to the end of March.
The loss was more than six times higher than during the same period last year.
The budget carrier, which is partly owned by Singapore Airlines, said that, due to an over-supply of capacity, it "continues to operate in a challenging business environment" and that it plans to review its joint venture with Indonesian airline Tigerair Mandala.
"It is expected that yield and load factors will remain under pressure," it added.
