Tiger Airways says it will put profit before growth for its Australians operations in the year ahead.
Tiger said its Australia business posted an operating loss of $S9 million (A$6.8 million) in the 12 months to March 31, 2011, compared with an operating loss of $S600,000 in the prior year.
Natural disasters pushed the airline’s Australian business to a full year loss, Tiger said. Revenue in Australia rose to $S279.5 million from $S208 million,
Group profit before tax almost trebled to $S57 million in the financial year to March 31, compared to $$19.9 million in the previous year.
And while it is putting its expansion plans in Australia on hold, Tiger Airways has announced a provisional agreement to take a 33 percent stake in Indonesia carrier Mandala Airlines, which is being restructured under that country’s insolvency laws following its decision to stop flying earlier this year.
Not so good news for Tiger are reports from Manila that the Philippines aviation regulator is suspending the marketing deal between Tiger and domestic carrier SEAir.
In March the Civil Aviation Safety Authority in Australia served Tiger a show cause notice over concerns about its oversight of maintenance and pilot training.
CASA has blocked further expansion by Tiger from its nine A320 fleet until concerns about the airline have been resolved.
