I believe they are doing well.
They have a big domestic market.
Competitive and cut throat business, definitely!
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Tiger Airway : Another right issue soon?
- Thread starter lifeafter41
- Start date
I believe they are doing well.
They have a big domestic market.
Competitive and cut throat business, definitely!
We still dunno if lion air is making money or not as its not listed. Many did not realize that lion air is as big as airasia but do their business in stealth. They have local units in Malaysia and Thailand. And control Indonesia LCC business.
Yes Lionair is quite popular and looks like quite well run too. Tigerair should not be proud and should try to learn from AirAsia and Lionair.
It is quite risky to touch their shares at the moment because of the long lasting effects of poor management decisions affecting the airline's profits or lack thereof. The rights issue if it happens will just create an overhang of shares. Can fly on their planes if you like but better avoid their stock.
Tiger just drop another 4% to S$0.36.
How low can you go?
http://www.youtube.com/watch?v=XgCHOrF5ryY&feature=player_detailpage
Looks like Air Asia is the only budget airline in this region that is making money.
Tigerair is doing well because Malaysia Airlines tak boleh lah.
Tiger just drop another 4% to S$0.36.
How low can you go?
http://www.youtube.com/watch?v=XgCHOrF5ryY&feature=player_detailpage
Better not to touch their shares until they show some signs of improvement in performance. Also the price may drop further if they call for a rights issue.
Tigerair is doing well because Malaysia Airlines tak boleh lah.
Malaysia Airline's business willl mostly go to AirAsia no?
Better not to touch their shares until they show some signs of improvement in performance. Also the price may drop further if they call for a rights issue.
AVIATION | Staff Reporter, Singapore
Published: 13 Oct 14
200 views
Tigerair mulls new rights issue to fund escalating losses
It might trim its fleet yet again.
Loss-making Tiger Airways is mulling a new rights issue to cover its ballooning losses, after revealing that it is subleasing its 12 idled planes to Indian low-cost carrier IndiGo.
According to CIMB, the rights issue will likely be used to fund losses in Singapore and Australia, as well as the negative carry on the 12 planes. This would be Tiger’s third rights issue following its IPO in January 2010 which raised S$224m. Tiger completed a 1-for-2 rights issue at S$0.58/share (raising S$155m) in November 2011, and a 1-for-5 rights issue at S$0.47/share (raising S$76m) and a perpetual convertible (raising S$218m) in April 2013.
CIMB also noted that carrier’s lease rates to IndiGo came in lower than earlier expectations, and the carrier might trim its fleet by 2-4 planes if the need arises. De-rating catalysts are waiting to pounce on TigerAir, even if losses are projected to narrow in the years ahead.
“While the sublease of 12 A320s to IndiGo will generate S$162m in lease incomes over the 3-4 year lease terms to partially offset the lease expenses and is clearly preferable than leaving the planes idle, we were surprised by the size of the S$93m provision, suggesting that the lease rates to IndiGo may have been lower than Tiger’s earlier expectations. In this sense, we view yesterday’s announcement as a negative to Tiger,” stated CIMB
Listed in Jan 2010, now is Oct 2014.
Almost 4.75 years, raised almost 1/2 Billion from 2 rights issue, excluding IPO proceed.
Third one coming.
Maybe new rights at 1/2 price of closing on next offering?.
They better do it fast for price has drop more than 75% since IPO.
Malaysia Airline's business willl mostly go to AirAsia no?
Oops! I mean AirAsia not TigerAir. My bad. Typing way past midnite so half asleep.
Better not to touch their shares until they show some signs of improvement in performance. Also the price may drop further if they call for a rights issue.
Tiger just announced, Q2'15 result loss of 182 million, can't imagine full year result, within the next 6 months.
Call for rights issue as below:
Singapore, 17 October 2014. Tiger Airways Holdings Limited (the “Company” or “Tiger Airways”) wishes to announce that it is proposing to undertake a renounceable non-underwritten rights issue (the “Rights Issue”) to the Entitled Shareholders (as defined herein) to raise gross proceeds of up to approximately S$234 million.
Pursuant to the Rights Issue, up to 1,169,842,3891 new ordinary shares in the capital of the Company (the “Rights Shares”) are proposed to be issued at an issue price of S$0.20 for each Rights Share (the “Issue Price”) on the basis of 85 Rights Shares for every 100 existing ordinary shares in the capital of the Company (the “Shares”) held by shareholders of the Company (the “Shareholders”) as at a date and time to be determined by the directors of the Company (the “Directors”) for the purpose of determining the Shareholders’ entitlements under the Rights Issue (the “Record Date”), fractional entitlements to be disregarded.
The Issue Price represents a discount of approximately 39 per cent. to the one-day volume weighted average price (“VWAP”) on 16 October 2014, being the date preceding the date of this announcement, of S$0.328 per Share, and a discount of approximately 26 per cent. to the theoretical ex-rights price2 (“TERP”) of S$0.269 per Share.
Rights lelong at S$0.20, entitled to buy 85 shares to every 100 shares hold.
Yes Lionair is quite popular and looks like quite well run too. Tigerair should not be proud and should try to learn from AirAsia and Lionair.
It is wise to shut the whole damn fucking airline. It had been bleeding like a women having their regular period. Who are the TOP executive team, i always wonder !
Virgin Australia pays $1 for Tigerair stake
http://www.theaustralian.com.au/bus...093502559?nk=20ab93c07084c728963b4a9bb7319f94
http://www.theaustralian.com.au/bus...093502559?nk=20ab93c07084c728963b4a9bb7319f94
Oops! I mean AirAsia not TigerAir. My bad. Typing way past midnite so half asleep.
Ya I know what you mean. It happens to me too.
Tiger just announced, Q2'15 result loss of 182 million, can't imagine full year result, within the next 6 months.
Call for rights issue as below:
Singapore, 17 October 2014. Tiger Airways Holdings Limited (the “Company” or “Tiger Airways”) wishes to announce that it is proposing to undertake a renounceable non-underwritten rights issue (the “Rights Issue”) to the Entitled Shareholders (as defined herein) to raise gross proceeds of up to approximately S$234 million.
Pursuant to the Rights Issue, up to 1,169,842,3891 new ordinary shares in the capital of the Company (the “Rights Shares”) are proposed to be issued at an issue price of S$0.20 for each Rights Share (the “Issue Price”) on the basis of 85 Rights Shares for every 100 existing ordinary shares in the capital of the Company (the “Shares”) held by shareholders of the Company (the “Shareholders”) as at a date and time to be determined by the directors of the Company (the “Directors”) for the purpose of determining the Shareholders’ entitlements under the Rights Issue (the “Record Date”), fractional entitlements to be disregarded.
The Issue Price represents a discount of approximately 39 per cent. to the one-day volume weighted average price (“VWAP”) on 16 October 2014, being the date preceding the date of this announcement, of S$0.328 per Share, and a discount of approximately 26 per cent. to the theoretical ex-rights price2 (“TERP”) of S$0.269 per Share.
Rights lelong at S$0.20, entitled to buy 85 shares to every 100 shares hold.
Lelong until its quite tempting to punt.
It is wise to shut the whole damn fucking airline. It had been bleeding like a women having their regular period. Who are the TOP executive team, i always wonder !
I think the top executives could be from the parent Companies. I have never been interested in their shares other than the IPO which I did not get any of their shares anyway.
Virgin Australia pays $1 for Tigerair stake
http://www.theaustralian.com.au/bus...093502559?nk=20ab93c07084c728963b4a9bb7319f94
Sorry cannot read because its says 'Subscriber only ' article.
Virgin Australia pays $1 for Tigerair stake
THE AUSTRALIAN OCTOBER 17, 2014 12:13PM
VIRGIN Australia plans to buy the remaining 40 per cent of loss-making low-cost carrier Tigerair Australia from Singapore Airlines for $1 and fly the airline internationally.
The transaction will see the low-cost carrier become a wholly owned subsidiary of Virgin (VAH), which already owns a 60 per cent stake, for which it paid $35 million.
Virgin will keep Tigerair’s low cost business model and the separate brand.
Virgin will also secure the brand rights of Tigerair Australia to a number of international destinations its says will provide new growth opportunities.
“Given the ongoing subdued consumer demand in the Australian domestic market, the growth of the Tigerair Australia domestic fleet is likely to be reduced,’’ Virgin boss John Borghetti said. “Under this proposed transaction, we will benefit from the economies and achieve profitability ahead of schedule by the end of 2016 by leveraging the resources of the Virgin Australia Group.’’
The transaction is subject to conditions, including Foreign Investment Review Board approval and Tiger Holdings shareholder approval, but is expected to be completed by the end of the year.
Mr Borghetti said Singapore-based Tiger Airways Holdings and Virgin had worked together over the past 14 months on building a strong operating platform for the Australian operation. This had strengthened systems and processes, increased aircraft utilisation, established a Brisbane base and leveraged synergies across a range of areas.
“We remain committed to maintaining the airline’s low cost business model and the separate Tigerair brand, ensuring that we can continue to deliver the most competitive pricing in Australian budget travel,” Mr Borghetti said.
Virgin plans to maintain a partnership with Tiger through brand licencing and certain services which would continue to be provided by the Singapore company to Tiger Australia.
Virgin last year acquired a 60 per cent stake in Tiger, which effectively returned the Australian aviation market to a duopoly shared by Virgin and Qantas Airways Ltd.
Approving the deal in April 2013, the consumer watchdog said it was unlikely to lead to a substantial lessening of competition in the Australian market for domestic air passenger transport services.
Virgin announced the Tigerair purchase as it posted a first quarter net loss of $59.1 million.
This translated to an underlying pre-tax loss was $45m, an 18.3 per cent improvement compared on the first quarter last year, on revenue growth of 1.3 per cent.
Virgin said the first quarter was traditionally weak and weakness in the leisure market meant group yield was in line with the previous year, despite an increase in high-yielding passengers.
The airline took a restructuring charge in the quarter of $8.2m and hedging ineffectiveness cost it $14.3m. But the results excluded a share of equity-accounted losses in Tigerair of $11.6m for the quarter, up from $9.7m in the prior corresponding period.
It managed to keep unit costs under control with costs per available seat kilometre rising just 1 per cent.
Virgin chief financial officer Sankar Narayan said the results reflected improved performance compared to the same quarter last year, despite the ongoing weak consumer sentiment.
“While the leisure segment has remained subdued, we have delivered further growth in the corporate and government segment,’’ he said, noting the impact of weak leisure demand was more pronounced at Tigerair.
Mr Narayan said the airline would continue to realise benefits from its cost reduction this financial year and forward intakes were up by 3 per cent at September 30.
THE AUSTRALIAN OCTOBER 17, 2014 12:13PM
VIRGIN Australia plans to buy the remaining 40 per cent of loss-making low-cost carrier Tigerair Australia from Singapore Airlines for $1 and fly the airline internationally.
The transaction will see the low-cost carrier become a wholly owned subsidiary of Virgin (VAH), which already owns a 60 per cent stake, for which it paid $35 million.
Virgin will keep Tigerair’s low cost business model and the separate brand.
Virgin will also secure the brand rights of Tigerair Australia to a number of international destinations its says will provide new growth opportunities.
“Given the ongoing subdued consumer demand in the Australian domestic market, the growth of the Tigerair Australia domestic fleet is likely to be reduced,’’ Virgin boss John Borghetti said. “Under this proposed transaction, we will benefit from the economies and achieve profitability ahead of schedule by the end of 2016 by leveraging the resources of the Virgin Australia Group.’’
The transaction is subject to conditions, including Foreign Investment Review Board approval and Tiger Holdings shareholder approval, but is expected to be completed by the end of the year.
Mr Borghetti said Singapore-based Tiger Airways Holdings and Virgin had worked together over the past 14 months on building a strong operating platform for the Australian operation. This had strengthened systems and processes, increased aircraft utilisation, established a Brisbane base and leveraged synergies across a range of areas.
“We remain committed to maintaining the airline’s low cost business model and the separate Tigerair brand, ensuring that we can continue to deliver the most competitive pricing in Australian budget travel,” Mr Borghetti said.
Virgin plans to maintain a partnership with Tiger through brand licencing and certain services which would continue to be provided by the Singapore company to Tiger Australia.
Virgin last year acquired a 60 per cent stake in Tiger, which effectively returned the Australian aviation market to a duopoly shared by Virgin and Qantas Airways Ltd.
Approving the deal in April 2013, the consumer watchdog said it was unlikely to lead to a substantial lessening of competition in the Australian market for domestic air passenger transport services.
Virgin announced the Tigerair purchase as it posted a first quarter net loss of $59.1 million.
This translated to an underlying pre-tax loss was $45m, an 18.3 per cent improvement compared on the first quarter last year, on revenue growth of 1.3 per cent.
Virgin said the first quarter was traditionally weak and weakness in the leisure market meant group yield was in line with the previous year, despite an increase in high-yielding passengers.
The airline took a restructuring charge in the quarter of $8.2m and hedging ineffectiveness cost it $14.3m. But the results excluded a share of equity-accounted losses in Tigerair of $11.6m for the quarter, up from $9.7m in the prior corresponding period.
It managed to keep unit costs under control with costs per available seat kilometre rising just 1 per cent.
Virgin chief financial officer Sankar Narayan said the results reflected improved performance compared to the same quarter last year, despite the ongoing weak consumer sentiment.
“While the leisure segment has remained subdued, we have delivered further growth in the corporate and government segment,’’ he said, noting the impact of weak leisure demand was more pronounced at Tigerair.
Mr Narayan said the airline would continue to realise benefits from its cost reduction this financial year and forward intakes were up by 3 per cent at September 30.
Virgin Australia pays $1 for Tigerair stake
THE AUSTRALIAN OCTOBER 17, 2014 12:13PM
VIRGIN Australia plans to buy the remaining 40 per cent of loss-making low-cost carrier Tigerair Australia from Singapore Airlines for $1 and fly the airline internationally.
It managed to keep unit costs under control with costs per available seat kilometre rising just 1 per cent.
Virgin chief financial officer Sankar Narayan said the results reflected improved performance compared to the same quarter last year, despite the ongoing weak consumer sentiment.
“While the leisure segment has remained subdued, we have delivered further growth in the corporate and government segment,’’ he said, noting the impact of weak leisure demand was more pronounced at Tigerair.
Mr Narayan said the airline would continue to realise benefits from its cost reduction this financial year and forward intakes were up by 3 per cent at September 30.
Thank you for the post.
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