Crikey.com, 24 Jan 2014
Tiger Airways Holdings Limited (“Tigerair”) has reported a loss after tax of $118.5 million, including $88.3 million in exceptional charges, for the quarter ended 31 December 2013 (3QFY14), compared to a profit after tax of $2.0 million recorded in the previous corresponding quarter (3QFY13).
The exceptional charges consist of a $30.3 million loss on the planned disposal of Tigerair Philippines and an impairment of associates of $58.0 million in the quarter. The Group also recorded $23.1m as its share of losses of associates.
At the operating level, total revenue declined by 30.5% to $172.1 million in 3QFY14, while total expenses fell 21.3% to $180.9 million year-on-year. Full story