SINGAPORE (Yosefardi) – Tiger Airways Holdings Limited (Tigerair) suffered an operating loss of $24.2 million for the quarter ended 31 March 2014 (4QFY14), compared to an operating profit of $12.7 million recorded in the previous corresponding quarter (4QFY13).
Total revenue declined by 32.7% to $161.9 million in 4QFY14, while total expenses fell 18.3% to $186.1 million year-on-year, 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.
For the full year ended 31 March 2014, the Group recorded an operating loss of $52.0 million compared to an operating profit of $7.3 million year-on-year. Group loss after tax widened to $223.0 million, compared to the previous year’s loss after tax of $45.4 million.