BUDGET airline Tiger Airways has blamed the grounding of its fleet over safety concerns and high fuel prices for its nearly $50 million loss.
The six-week suspension of the airline by the Civil Aviation Safety Authority of Australia (CASA) earlier this year significantly impacted its results, the company said.
"The Group expects to record a significant net loss for the financial year, due to the losses generated by Tiger Airways Australia as a result of the CASA suspension," the company said in a statement.
The airline, which reported a loss of $49.9 million after tax in the quarter ending September 30, also blamed high fuel prices for the loss.
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