Tigerair 'achieves turnaround' with S$7.9m profit for Q4

Tigerair on Thursday posted a net profit of S$7.9m for Q4 ended Mar 31, 2016. In a media release, it said this is an improvement of S$26.7m compared to a year ago, when it posted a net loss of S$18.8m. The airline added that revenue increased by 4.1% - or S$7.1m - due to a higher load factor of 3.5 percentage points, while yields remained flat. Expenses for the quarter decreased 5.5% - or S$9.6m - mainly due to lower fuel costs, said Tigerair. For the full financial year, Tigerair said it recorded a net profit of S$0.3m, compared to the net loss of S$264.2m for FY2015. It added that revenue increased by 3.8% - or S$25.5m - due to a higher load factor of 1.2 percentage points, and higher yields of 2.9%. Expenses also decreased by 4% - or S$29m - mainly due to lower fuel costs and higher aircraft productivity, Tigerair said. This comes after the airline became a wholly-owned subsidiary of Singapore Airlines, which launched a takeover offer last year. <br/>