Great! SG Airline LOST $$$Hundreds of Millions HUAT!

http://www.straitstimes.com/news/bu...-seeks-turnaround-clipping-own-wings-20140503



Loss-making Tigerair seeks turnaround by clipping own wings
PUBLISHED ON MAY 3, 2014 9:23 AM
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Tigerair lost $223 million in the year to March 31, compared with $45.4 million in the previous 12 months. Its ventures in the Philippines and Indonesia have also not worked out well. -- ST FILE PHOTO

BY KARAMJIT KAUR AVIATION CORRESPONDENT
Tigerair is grounding eight planes and cutting unprofitable flights in an unprecedented move to turn its loss-making business around.

Battered by bruising competition, which has pushed the carrier into its biggest loss ever, Tiger-air will park the planes - about 15 per cent of its total fleet - until the end of March next year.

The decision to downsize comes about two months after the airline cancelled an order for nine single-aisle planes that were due to arrive this year and next.

There are just too many flights serving the region and not enough demand to fill seats, said group chief executive officer Koay Peng Yen during a media tele-conference following the release of Tigerair's financial results yesterday.

Anothwr sign economy not doing well.

Airasia is kicking tiger's butt....next casualty is scoot.
Haha sinkie scholars can't make it in the real world of business.

Narong Wongwan said:

Airasia is kicking tiger's butt....next casualty is scoot.
Haha sinkie scholars can't make it in the real world of business.

Click to expand...

Haha, nothing new.
Fark the pariah papPIGS.

thanks to internet PAP cannot cover up this loss through their shitty MSM.

Sinkie scholars only waiting for the next job opening available from PAP 600++GLCs. You see scholars are collectors of useless titles and appointments for their resume list.

Don't see their names listed in helping people or are entrepreneur.

Narong Wongwan said:

Airasia is kicking tiger's butt....next casualty is scoot.
Haha sinkie scholars can't make it in the real world of business.

Click to expand...

Harsh reality is home market's very small, and misadventures (collaboration) elsewhere more than dented the p/loss.

我爸是李肛=Ass Loong said:

http://www.straitstimes.com/news/bu...-seeks-turnaround-clipping-own-wings-20140503



Loss-making Tigerair seeks turnaround by clipping own wings
PUBLISHED ON MAY 3, 2014 9:23 AM
PRINT
EMAIL
*

Tigerair lost $223 million in the year to March 31, compared with $45.4 million in the previous 12 months. Its ventures in the Philippines and Indonesia have also not worked out well. -- ST FILE PHOTO

BY KARAMJIT KAUR AVIATION CORRESPONDENT
Tigerair is grounding eight planes and cutting unprofitable flights in an unprecedented move to turn its loss-making business around.

Battered by bruising competition, which has pushed the carrier into its biggest loss ever, Tiger-air will park the planes - about 15 per cent of its total fleet - until the end of March next year.

The decision to downsize comes about two months after the airline cancelled an order for nine single-aisle planes that were due to arrive this year and next.

There are just too many flights serving the region and not enough demand to fill seats, said group chief executive officer Koay Peng Yen during a media tele-conference following the release of Tigerair's financial results yesterday.

Click to expand...

The airline business demonstrates the uselessness of the PAP and their GLCs without the protection of monopoly and oligopoly. Because the Airline industry is not protected by and monopolized by the PAP, its is exposed to the real market factors which dictate good business acumen to surv ice. how does a company like Tigerair populated by directors like por lumpar Temasek ex president Hsieh Fu Hua, civil servants like LTA's Arthur Lang, former Singpost director Lee Chong Kwee, etc. expect to out play the other budget airlines in the business? Imagine if real competition was introduced to all other sectors of business, like radio/tv stations, phone businesses, etc. These fuckers would be losing money hand over fist.

Narong Wongwan said:

Airasia is kicking tiger's butt....next casualty is scoot.
Haha sinkie scholars can't make it in the real world of business.

Click to expand...

Was there some thing about Fernadez approaching SIA when he was starting AirAsia ? or started AA?...they 'laughed' at him something like that...WE ARE DAMN PROUD OF OURSELVES....pride has its fall!!...

Today, Malaysian airlines offers $275 (all in) from SG to Guangzhou (transit-KL) while tiger charges approx $375. I think you will still fly tiger.

They have scoot, silkair and tiger. Not merged because of air-rights but sharing similiar support facilities. Tiger was primarily ruined by the australians 2-3 years ago. It is very likely that the maximum losses were recognized since 2013 till now.

Judging at the recent privatisation and delisting trends, sg. OBS+Wheelock taking over his HPL, UIC taking over sgland, Capitaland taking over capitalmalls asia, temasek taking over olam.............you will notice that the buyers are actually not really third-party strangers.

Today, SIA is the largest shareholder. A month ago, they issued $500m bonds at 3.14-3.75%pa. Tiger's market cap is only $400m today. They also holds a very large portion of convertible bonds which will give them a massive stake when exercised. I believe we will see the delisting of tiger soon, in the best interests of the SIA and shareholders.

我爸是李肛=Ass Loong said:

... Loss-making Tigerair seeks turnaround by clipping own wings ...

Click to expand...

a tiger never haf wings ... it is never borned 2 fry ...

now dey want 2 crip iz wings summor ...

Papsmearer said:

The airline business demonstrates the uselessness of the PAP and their GLCs without the protection of monopoly and oligopoly. Because the Airline industry is not protected by and monopolized by the PAP, its is exposed to the real market factors which dictate good business acumen to surv ice. how does a company like Tigerair populated by directors like por lumpar Temasek ex president Hsieh Fu Hua, civil servants like LTA's Arthur Lang, former Singpost director Lee Chong Kwee, etc. expect to out play the other budget airlines in the business? Imagine if real competition was introduced to all other sectors of business, like radio/tv stations, phone businesses, etc. These fuckers would be losing money hand over fist.

Click to expand...

Well, Singapore GLC can only thrive with Government protection, aka covering their ass. Desmond lim from SMRT is selling the asset of SMRT back to government because of rising land price. The aim is to prop up the share price, true enough the share price surge 20% after SMRT revealed that they have asked Singkie Government to buy back the asset at Market price. Government also say that they are ready to buy back the asset own by SMRT. Upon buying back of SMRT asset back to Singkie Government, SMRT will have a wind fall. The only beneficiary will be the Shareholders, Desmond Kuek and his cronies from SAF. Balance sheet will be prop up and SMRT will return to much more profit.

Win win situation for all , except tax payers and commuters. So question , i like to ask. What happen after selling off your assets just to sustain your profitability for the financial year ? Ask government for another 1.1 billion hand out for new buses ?

Back to Airline business, if Singkie government can't shield all these leeches from free competition overseas. They will be slaughtered and cut up just like what happen to Tiger Air. Next stop, Scoot will be online next.

congo9 said:

Back to Airline business, if the government can't shield all these leeches from free competition overseas. They will be slaughtered and cut up just like what happen to Tiger Air. Next stop, Scoot will be online next.

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Tiger's chairman Mr JY Pillay couldn't duplicate his SIA success. It is disheartening that he ended his airlines-legacy in such a manner.

Runifyouhaveto said:

Tiger's chairman Mr JY Pillay couldn't duplicate his SIA success. It is disheartening that he ended his airlines-legacy in such a manner.

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He is no Tony Fernandes ! Tiger air Market capitalisation is $400 million today and the loss for this financial year is $200 plus million ?

only 2 option : De list or go private to save their own ass !

Runifyouhaveto said:

Today, Malaysian airlines offers $275 (all in) from SG to Guangzhou (transit-KL) while tiger charges approx $375. I think you will still fly tiger.

They have scoot, silkair and tiger. Not merged because of air-rights but sharing similiar support facilities. Tiger was primarily ruined by the australians 2-3 years ago. It is very likely that the maximum losses were recognized since 2013 till now.

Judging at the recent privatisation and delisting trends, sg. OBS+Wheelock taking over his HPL, UIC taking over sgland, Capitaland taking over capitalmalls asia, temasek taking over olam.............you will notice that the buyers are actually not really third-party strangers.

Today, SIA is the largest shareholder. A month ago, they issued $500m bonds at 3.14-3.75%pa. Tiger's market cap is only $400m today. They also holds a very large portion of convertible bonds which will give them a massive stake when exercised. I believe we will see the delisting of tiger soon, in the best interests of the SIA and shareholders.

Click to expand...

Another year of over 200million loss is going to wipe out Tiger's shareholder. SIA or not.
It's bleeding very badly.
Most lightly will be delist soon.

Bankruptcy??? an option too???

po2wq said:

a tiger never haf wings ... it is never borned 2 fry ...

now dey want 2 crip iz wings summor ...

Click to expand...

Dumb sinkies worship the white horses.....
We have elite winged unicorns like Patrick Tan to pegasus like lhl.....flying tiger is normal

lifeafter41 said:

Another year of over 200million loss is going to wipe out Tiger's shareholder. SIA or not.
It's bleeding very badly.
Most lightly will be delist soon.

Bankruptcy??? an option too???

Click to expand...

yes, very likely it will be delisted soon. such a pity, Mr Pillay could have created a mega local budget-airline spanning operations from Aust to India & China.

Sidetrack: Air-asia is successful mainly because MAS is trashy. Even firefly is more profitable and sustainable. LOL

Runifyouhaveto said:

Tiger's chairman Mr JY Pillay couldn't duplicate his SIA success. It is disheartening that he ended his airlines-legacy in such a manner.

Click to expand...

I thought an angmo was in charge

Tiger was badly mismanaged. There was plenty of embarrassing problems I remember when they kicked out passengers from one flight because the other plane couldn't take off

My plan to get people to boycott Tigerair (formerly Tiger Airways) has gone on exceedingly well.

Be a cool kid and fly JetStar or AirAsia for budget air travel. The GLC subsidiary wannabes Tigerair and Scoot can go fuck themselves.

Runifyouhaveto said:

could have created a mega local budget-airline spanning operations from Aust to India & China.
Sidetrack: Air-asia is successful mainly because MAS is trashy. Even firefly is more profitable and sustainable.

Click to expand...

Size (of hinterland market) matters, economies of scale. But then, cross border forays can get unstuck with nationalistic regulations et al.

AAsia's success in mutland local routes, ala domestic carrier with MAS former monoploy failure. So Firefly morphed.

laksaboy said:

fly JetStar or AirAsia for budget air travel

Click to expand...

Advantage: Connectivity

Runifyouhaveto said:

yes, very likely it will be delisted soon. such a pity, Mr Pillay could have created a mega local budget-airline spanning operations from Aust to India & China.

Sidetrack: Air-asia is successful mainly because MAS is trashy. Even firefly is more profitable and sustainable. LOL

Click to expand...

Probably rights issue soon.
Last rights issued and preferential offering proceed total 297million (Gross Proceed) most lightly has been used up.

Does forummers here own any Tiger shares?
Will you subscribe if another rights issue is being called?.