Tiger Airways Australia- April Update
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Tiger Airways Australia- April Update
TIGER AIRWAYS says it has now established a solid financial foundation to remain in Australia into the long term, after declaring its domestic operations had become "self-sufficient" and were now generating positive cash flows.
Five months since the Singapore Airlines-backed budget carrier launched services out of Melbourne, Tiger's chief executive, Tony Davis, said: "The cash flow in Australia has been self-sufficient. We've been able to fund it from our own reserves."
He said this could now allow Tiger to expedite its Australian expansion plans.
He said Tiger Australia, established with a capital base of $1 last year, did not have to use the carrier's Singapore operations to subsidise its operations in Australia.
Tiger also rejected speculation it was looking to appoint a new managing director in Australia to replace Chris Ward, who helped set up the domestic carrier and who worked with Mr Davis at the British budget carrier Bmibaby.
There has been talk Tiger had chosen the former easyJet executive Shelley Roberts as its new Australian boss, but a Tiger spokesman said he was unaware of the speculation that Ms Roberts, 33 - who works for Macquarie Group - could be preparing herself for the job.
Tiger boasted, via a press release, that despite increasing its fleet of A320s in Asia and Australia by only three, from nine to 12, it had increased passenger numbers by 50 per cent and revenues by 82 per cent in the year to March 31. The airline has 50 more A320s on order.
"We've closed our financial year with out strongest cash position ever," Mr Davis told the Herald. However, he declined to say if Tiger reported an overall loss for the year. Mr Davis said Tiger would wait for its full-year results to be audited before disclosing this.
But there are concerns Tiger's "positive cashflows" are hugely dependent on its forward bookings.
Some critics argue Tiger's cash flows could quickly dry up if domestic demand in Australia falters, especially if there is an economic slowdown. It also has been argued Tiger's statement on its financial position was a reaction to Qantas's part-owned Singapore carrier, Jetstar Asia, announcing last week it had made a profit after three years of operation.
Some have suggested that Tiger's plans to establish a second base in Australia have been a ploy to seek a financial inducement from an airport keen to attract more services.
Jetstar has argued Tiger is simply trying to find a second airport to park its jets overnight. The Qantas low-cost airline says it already uses 10 airports to park its jets overnight in Australia and New Zealand.
Five months since the Singapore Airlines-backed budget carrier launched services out of Melbourne, Tiger's chief executive, Tony Davis, said: "The cash flow in Australia has been self-sufficient. We've been able to fund it from our own reserves."
He said this could now allow Tiger to expedite its Australian expansion plans.
He said Tiger Australia, established with a capital base of $1 last year, did not have to use the carrier's Singapore operations to subsidise its operations in Australia.
Tiger also rejected speculation it was looking to appoint a new managing director in Australia to replace Chris Ward, who helped set up the domestic carrier and who worked with Mr Davis at the British budget carrier Bmibaby.
There has been talk Tiger had chosen the former easyJet executive Shelley Roberts as its new Australian boss, but a Tiger spokesman said he was unaware of the speculation that Ms Roberts, 33 - who works for Macquarie Group - could be preparing herself for the job.
Tiger boasted, via a press release, that despite increasing its fleet of A320s in Asia and Australia by only three, from nine to 12, it had increased passenger numbers by 50 per cent and revenues by 82 per cent in the year to March 31. The airline has 50 more A320s on order.
"We've closed our financial year with out strongest cash position ever," Mr Davis told the Herald. However, he declined to say if Tiger reported an overall loss for the year. Mr Davis said Tiger would wait for its full-year results to be audited before disclosing this.
But there are concerns Tiger's "positive cashflows" are hugely dependent on its forward bookings.
Some critics argue Tiger's cash flows could quickly dry up if domestic demand in Australia falters, especially if there is an economic slowdown. It also has been argued Tiger's statement on its financial position was a reaction to Qantas's part-owned Singapore carrier, Jetstar Asia, announcing last week it had made a profit after three years of operation.
Some have suggested that Tiger's plans to establish a second base in Australia have been a ploy to seek a financial inducement from an airport keen to attract more services.
Jetstar has argued Tiger is simply trying to find a second airport to park its jets overnight. The Qantas low-cost airline says it already uses 10 airports to park its jets overnight in Australia and New Zealand.
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Failed Booking
Just tried to book my first Flight with Tiger MEL- Sunshine Coast.
Thought i would give them a try but had awful problems with payment.
They are set up on Visa to go through a checking process online.
After 30 mins of logging in on Visa it persistantly failed so had no option but to transfer to Virgin Blue (which authorised first time)
Not a good start-might be worth looking into it if anybody from the company is reading this.
Thought i would give them a try but had awful problems with payment.
They are set up on Visa to go through a checking process online.
After 30 mins of logging in on Visa it persistantly failed so had no option but to transfer to Virgin Blue (which authorised first time)
Not a good start-might be worth looking into it if anybody from the company is reading this.
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That's the 'Verified by Visa' service, mate.
You need to register with your card vendor for it to work. Most vendors allow you to regsiter for it online. It's an added security measure for your benefit. It's Visa declining the transaction - not Tiger.
Tiger use it because of the level of credit card fraud they experience in Asia. Virgin Blue haven't gone on to it yet, but they will shortly. The take-up so far by airlines is pretty high.
I suggest you register for it, because it'll be the norm in 12 months time for all online transactions. You won't be able to shop online without it, and you'll experience the same problems on other websites.
If you use your credit card a lot online, you'll notice more and more websites will decline your transaction these days because of this system. The websites which suffer a lot from fraud are quickly taking it up, in their own interest.
Other general retail websites are taking to it more slowly, because the added measures adversely affect sales. Shoppers don't like it, they don't understand what it is and they can't be arsed with it, even though it protects them. It'll take time for shoppers to get used to it, but they will.
The Mastercard system is called 'SecureCode'. Same difference. Both systems cover debit cards too.
Tiger are well aware of it. They've been using it for over a year.
See here:
http://www.tigerairways.com/CN/home/vbv_mcsc.php
If you've already registered for it and it's still failing, then contact your card vendor. I know that HSBC have had problems with the service recently. Their side of the system has been down quite a lot of late.
You need to register with your card vendor for it to work. Most vendors allow you to regsiter for it online. It's an added security measure for your benefit. It's Visa declining the transaction - not Tiger.
Tiger use it because of the level of credit card fraud they experience in Asia. Virgin Blue haven't gone on to it yet, but they will shortly. The take-up so far by airlines is pretty high.
I suggest you register for it, because it'll be the norm in 12 months time for all online transactions. You won't be able to shop online without it, and you'll experience the same problems on other websites.
If you use your credit card a lot online, you'll notice more and more websites will decline your transaction these days because of this system. The websites which suffer a lot from fraud are quickly taking it up, in their own interest.
Other general retail websites are taking to it more slowly, because the added measures adversely affect sales. Shoppers don't like it, they don't understand what it is and they can't be arsed with it, even though it protects them. It'll take time for shoppers to get used to it, but they will.
The Mastercard system is called 'SecureCode'. Same difference. Both systems cover debit cards too.
Tiger are well aware of it. They've been using it for over a year.
See here:
http://www.tigerairways.com/CN/home/vbv_mcsc.php
If you've already registered for it and it's still failing, then contact your card vendor. I know that HSBC have had problems with the service recently. Their side of the system has been down quite a lot of late.
Last edited by harrogate; 23rd Apr 2008 at 21:14.
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Thanks Harrogate
Had already registered the card on-line.Works fine for other sites with the Verified by Visa ,just Tiger fails persistantly which is a bit of a concern.
Had already registered the card on-line.Works fine for other sites with the Verified by Visa ,just Tiger fails persistantly which is a bit of a concern.
