Tiger Air

Tiger Air: June operating data. The group carried 503k passengers, +9% mom, -9% yoy. Overall load factor was 85%, a sharp improvement over 80% last mth, and close to the 86% a yr ago. Both the Spore and Australia operations contributed to the m-o-m growth in terms of passengers carried, supporting the case for recovery. Recall Tiger Australia was previously suspended over safety issues in 2H11, and has been steadily ramping up its services since being allowed to resume operations. It expects to return to operating levels before the hiatus by Oct ’12. Tiger Australia also commenced operations at its second Australian base in Sydney wef 1 Jul ’12.