3 Holer, they bailed because the pilot shortage was about to hit the company hard, and became quite the public relations nightmare. Share price has been down ever since, Singaporeans lost confidence in the company, they were canceling 1/3 of the schedule daily (not that the ceo would ever admit it was related).
Q3 results just out, $S21.6m net profit. Target for this year (net) was $91m, but full year target is in the area of $60-70m. Fuel prices/Singapore pilot shortage/QLD floods to blame for falling short. Although next financial year's guidance has been boosted to a $110m net profit.
From the press release..essentially just 2 more aircraft for the next 9 months for Melbourne.
The recent weather events on the east coast of Australia will have an adverse effect on earnings for Tiger Airways Australia in the fourth quarter. As a consequence, plans to increase the fleet beyond the current 10 aircraft in Australia have been deferred until April 2011. Tiger Airways Australia will increase its seat capacity by at least 20% for the period April to October 2011.
Last edited by Sunstar320; 30th Jan 2011 at 03:21.