Tiger Airways says passenger traffic up 50 per cent
Budget carrier group Tiger Aviation said on Monday it carried 50 per cent more passengers last year and foresees a further expansion of its regional operations.india Updated: Apr 21, 2008 17:13 IST
Budget carrier group Tiger Aviation said on Monday it carried 50 per cent more passengers last year and foresees a further expansion of its regional operations.
The aviation group, which consists of Tiger Airways Singapore and Tiger Airways Australia, said it sold 2.25 million seats for the year ended March 31.
Tiger also reported 81.6 per cent year-on-year revenue growth but did not release detailed figures because a formal audit is not complete, said Tony Davis, Tiger Aviation's chief executive officer and president.
"Its always better to present audited figures than management figures," he told reporters at a news conference.
"I think once that is completed we will be able to share with you a solid set of financial results that we are very pleased with."
In November, Tiger said it had signed a letter of cooperation with Incheon city in South Korea to set up a new budget carrier based in that country.
Tiger also began Australian domestic operations from a Melbourne base in November, and Davis said there is opportunity to bring other companies into the group structure.
"The only way to grow our business is by looking at setting up joint venture companies in other jurisdictions in the region," he said.
Davis added there "will be a lot of shake-up in the market in the next 12 months".
Tiger has moved to operate its network more efficiently, he said.
"We've looked at the some of the routes that are not doing as well. We've scaled back some of our operations and beefed up operations in India and China," he said.
Tiger is 49-per cent owned by national carrier Singapore Airlines.
Southeast Asia's low-cost sector has boomed since the birth of Malaysia-based AirAsia, several years ago, spawned a host of imitators.