Tiger Airways has dropped its expansion plans in Australia but reported a near trebling of profit before tax as a group to $SIN 57 million in its financial year to March 31, compared to $ 19.9 million* in the previous year.
It also announced a provisional agreement (or the signing of a term sheet) 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 cease flying earlier this year.
However that agreement was overshadowed, almost to the minute it was announced, by the release of an order by the Philippines aviation regulator, the Civil Aeronautics Board suspending the marketing deal between Tiger and a small domestic carrier SEAir. Full story
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Tiger Airways Singapore outperforms Australia - MICEBTN
