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Tigerair Taiwan Reports Soaring Q3 Revenue, Eyes Expansion in Japanese Market

Tigerair Taiwan achieves remarkable Q3 revenue surge, driven by summer travel peak and post-epidemic passenger recovery. Plans to expand direct flights to 20 destinations in Japan by year-end, emphasizing limited competition. Focus shifts to attracting Japanese tourists to Taiwan with anticipated incentives
Japan
Taiwan
t 6757.TW Consumer 250 Mid and Small Cap 2000
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Tigerair Taiwan has witnessed an impressive surge in revenue for the third quarter, recording a year-on-year increase of 2378% and a quarterly rise of 23.87%. This growth is attributed to the bustling summer season and the resurgence of passenger traffic following the pandemic. Gross profit margin and operating profit margin have also seen significant improvement, reaching 30% and 24% respectively. Additionally, the earnings per share (EPS) in Q3 hit 1.3 yuan, marking a new high since Q1 2020.

For the first three quarters of the year, cumulative revenue amounted to 9.049 billion yuan, showing a remarkable annual increase of 1904%, with an EPS of 3.19 yuan.

Chairman Chen Hanming announced at the ITF Travel Exhibition that Tigerair Taiwan will expand its direct flights to 20 destinations in Japan by the end of the year, all of which will be solo flights, providing limited competition. With fleet and route expansion in the pipeline, the outlook for the coming year is anticipated to surpass the current year’s performance.

Looking ahead, Tigerair Taiwan is set to focus on enticing Japanese tourists to visit Taiwan. The airline is currently in negotiations with various Japanese prefectures and offices to provide cash subsidies for Japanese passengers applying for passports. Additionally, Tigerair Taiwan plans to offer discounted airfares to further attract Japanese tourists.

The travel show hosted by Tigerair Taiwan has generated a strong buying sentiment. Despite the absence of ticketing services at the event, the level of inquiries and consumer interaction has been notably high. Attendees have rushed to the travel show, presenting their purchased itinerary confirmation slips to redeem limited edition commemorative gifts and the 2024 Rakuten Girls Desk Calendar.

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