Tiger Airways posts S$28m profit for full year

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Tiger Airways Holdings has reported operating profit of S$28 million ($20 million) for the year ended 31 March 2010, compared with a loss of S$47.5 million for the previous year.

Net profit came to S$28.2 million for the year, compared with a loss of S$50.8 million for 2008-09.

The positive results were achieved through record traffic growth, continued increase in ancillary revenues and focus on cost containment, says the company.

Revenue rose by 28.6% to S$486 million as a result of a 53.8% increase in passenger numbers. Load factor grew by 5.7 percentage points to 85.1%.

Tiger says it will open new services to Trichy and Trivandrum in southern India in November, as well as increase frequencies on Singapore-Chennai.

It will also re-establish Australian services between Melbourne and Darwin from June, and will introduce Melbourne-Cairns services from September.