Page 12 - AAA JANUARY-FEBRUARY 2012 Online Magazine

Headline News

Tiger completes Mandala move

passengers, passenger seat
revenue increased by 2.8%
to S$139.9 million from
$136.1 million, resulting
from a 16.9% increase in av-
erage passenger fares.
Total expenses increased
by 26.0% in the Quarter
compared to the same
quarter last year, primarily
due the fact that fuel prices
were up by a third. increase
in fuel prices. Whilst seat
capacity in the Quarter re-
duced 2.7%, compared to the
same period last year, the
average size of the Group
fleet increased 38.8% in the
Quarter and as a result, to-
tal expenses excluding fuel
increased 18.2%. Unit cost
metrics were also impacted
by the under-utilisation of
Tiger Airways Holdings will adopt the Tiger Air- the successful completion the Group’s aircraft fleet.
has taken a 33% stake in ways business model, and of this investment with our The financial results for
Indonesian carrier Man- plans to offer low fare travel valued partners. We take the Quarter were impacted
dala through its wholly- to international and domes- great pride in helping to re- by the under-utilisation of
owned subsidiary in Sin- tic Indonesian destinations turn Mandala, a well-loved the Tiger Airways Austra-
gapore, Roar Aviation. within a 5-hour flying radi- Indonesian icon, to the skies lia’s aircraft fleet following
Mandala has undergone us. Like other airlines in the of Indonesia.” the suspension by the Civil
a financial restructuring Tiger Airways Group, the The news came as the Aviation Safety Author-
, which means the largest restructured airline would group recorded a loss af- ity of Australia in the pri-
shareholder is now the Sara- also operate Airbus A320 ter tax of S$17.4 million for or quarter. Tiger Airways
toga group, which will hold aircraft. the quarter, compared to a Australia recorded an op-
a 51.3% stake. The remain- Chief Executive Officer S$22.5 million profit after erating loss of S$8.6 million
ing 15.7% will be held by the of Tiger Airways Holdings tax for the quarter ended 31 in the quarter, compared to
previous shareholders and Limited, Chin Yau Seng, December 2010 - as the un- a S$5.9 million operating
creditors of Mandala. said, “We are pleased to der utilisation of the carri- profit in the same quarter
The next stage of the pro- have completed this trans- er’s Australian fleet follow- last year.
cess is to reactivate Manda- action, and are excited about ing last year’s grounding by “Since the resumption of
la’s Air Operator’s Certifi- the re-launch of Mandala’s regulators hit results. services in August 2011, Ti-
cate, which has been frozen operations once its AOC has Passenger numbers and ger Airways Australia has
since the suspension of its been reactivated. Mandala seat capacity were 12.0% continued to see improve-
operations in January last is the first of Tiger Airways’ and 2.7% lower, respective- ments in its operations, on
year. The AOC is expected joint venture “Cubs” and ly, in the quarter compared the back of a renewed focus
to be reactivated in Febru- represents a significant step to the same period last year, on reliability and punctual-
ary 2012, after which flight in our efforts to expand our due to the under-utilisation ity. However, it continues to
sales will commence ahead “paw-print” in this region.” of the Tiger Airways Aus- operate a smaller network
of the resumption of flights Sandiaga Uno, Founding tralia fleet as a result of its and schedule compared to
in April 2012. Partner of Saratoga group reduced flying programme. the period prior to the sus-
The restructured airline said, “We are delighted by Despite the reduction in pension,” notes Tiger.

12 ASIAN AIRLINES & AIRPORTS January/February 2012 www.AsianAirlines-Airports.com