Tigerair Australia reports strong revenue and passenger growth for FY2018

    Virgin Australia Group managing director and CEO John Borghetti reported (29-Aug-2018) the following highlights for its Tigerair Australia business for FY2018:

    • Segment reported strong revenue and passenger growth, reporting an 8.2% year-on-year increase in revenue per ASK, a 3.4% increase in revenue passengers and an 8.5% increase in yield. Results were supported by network optimisation and the net reduction of two aircraft in H2FY2018;
    • Overall EBIT declined by AUD11.9 million (USD8.7 million) compared to the previous corresponding period. Result was been affected by fleet depreciation and operating costs associated with Tigerair’s fleet transition. EBIT was also been impacted by the short-term cost of insourcing maintenance work to the group’s maintenance team. Mr Borghetti said the change will enable the Tigerair business to realise long-term benefits through synergies with the broader group. [more – original PR]