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Singapore's Tiger Airways records USD1.6m profit in Q3  Join our daily free Newsletter

MENAFN - 24/01/2013

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(MENAFN) Tiger Airways Holdings Ltd, one-third owned by Singapore Airlines Ltd, reported its first profits in seven quarters, but warned of a weaker fourth quarter performance, Reuters reported.

The company said it made USD1.6 million net profit during its fiscal third quarter, versus USD14.2 million loss a year earlier.

CEO Koay Peng Yen said that the better quarterly performance was mainly due to the fact that the September to December period is traditionally the strongest quarter for the air travel industry.

For the nine-month to December, Tiger Airways posted USD24.44 million loss, down from USD71.6 million a year earlier.

 






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