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Introduction

 

The report on the financial performance of Tiger Airways would provide the insight strategy of Tiger Airways operating system and model of business. It would elaborate the risk faced by Tigerair and the impact of this risk on the business prospects in future. With the disclosure of this report, it is intended to ascertain the financial statement of Tiger Airways and assist the stakeholder to interpret the financial status according to IFRS. The financial ratio measurement, beta calculation, and dividend policy analysis would provide key preliminary ideas for management. It could assess the internal performance of Tiger Airways by segmenting the group and assisting in making the proper allocation of resources. The measurement in this report is related to WACC and beta of CAPM that would identify the capital structure of Tiger Airways in the previous annual year. The graph analysis would indicate the ups and downs of the company share and impact of behavioral changes of stakeholder on Tiger Airways.

Part 1 preparing a description of the company

 

The Tiger Airways is introduced in Singapore in 2003. The company is currently operating in India, Southeast Asia, China and Bangladesh as Tigerair. The Tiger Airways has added to the traffic and unaudited surplus in the 1st quarter of the financial year on 30th June 2016. The Tigerair received 8 million profits as an improved operating performance in comparison to the breakeven point of 2015. In 2012 the 60% part of the Tiger Airways was intended to be taken over by Virgin Australia. In the year 2013, the company is renamed as Tigerair and joined hands with Virgin Australia. This milestone has indicated the new startup to Tiger Airways. Now the remaining share of 40% was also accused by Virgin Australia and became its subsidiary company. Tigerair provides services at lower cost and operating in more than 21 countries. It recently joined with the new route of the Gold coast- Hobart, introduced on December 2017. The primary goal of Tigerair is delivering the safety and reliable traveling experience to the passenger with the friendly environment.

Part 2 specifying the ownership governance structure

 

  1. Name of the substantial shareholder's holdings above 20% shares

As per Wang and Cui, (2016, p.215), in the scope of becoming Australia's domestic full-scale airline, it started competing with Virgin Australia. After the acquisition of Tiger Airways by Virgin Australia in 2013, the leftover percentage of share of 40% was taken over by Virgin Australia in the year 2014. In the year 2016, the Tiger Airways was held by China Airlines in Taiwan by 90% and the remaining of 10% was with Tigerair. The governance structure implies the good corporate management and enhancement of the company profile in the streaming market.

Tiger Airways had a joint venture with an Indonesian market of Mandala Airline, where the Saratoga group of Mandala holds up 51.3% of the shares of Tigerair. The company joined hand with four sectors of airlines in the last 5 years for improving its share market and increasing its royalty among the rivals of Australia.

Classification- According to the modern theory, the family company should have a correlated relation between shareholders and management which is involved in the profit maximization of a company instead of self-profit. Thus Tiger Airways is a family company as per its goal is to serve better to their passenger. Australia is the vast market with offshore. The demand of Airlines in Australia is vast, thus the Tiger Airways wanted to improve their company structure in that location. The rivals of the airline grounded the Tiger Airways in various ways.

  1. Name of the people involved in the governance of the firm

  1. The chairman - Elizabeth Bryan AM is the recent chairman of Virgin Australia operating in subsidiaries of Tiger Airways. The basic compensation of the chairman is $345,000 and holding of the company since 2015. She was selected by VAH board on 20th May and became a member of the risk management and account auditing.

  2. The Board member - According to Lee and Dattilo, (2015, 9.288), the board members are the people who assist the executive of the company and take the decision regarding the improvement of the company. Any decision in terms of the financial statement, location enhancement, share price fixation and assets allocation is taken by the board of members. or of Tiger airways are

The chairman of Board member is John Borghetti

David Baxby working primarily is Wesfarmers Limited

Maurice Newman working in Newcrest Mining Limited

Sankar Narayan working primarily in Xero Limited

Lik Hsin lee primarily working in Singapore Airlines Limited

  1. The CEO- Mr. Massimo Borghetti is the chief executive officer (CEO) of Tiger Airways since 8th May 2010, having experience of more than 40 years. He was previously acting as a director in Cola Amatil Limited and having proficiency in aviation (Wang and Cui, 2016, p.215).

    Part 3 Calculate Financial Ratio

The financial ratio calculation would ascertain the company financial position and helps the company in taking the decision of the company improvement. There are various types of ratio analysis done on the terms of balance sheet, income statement, changes in the shares of equity and cash flow of the company. The main ratio analysis is required are the liquidity ratio, leverage ratio, and the profitability ratio. The liquidity ratio helps in finding the capability of the company is assets liquefying and paying off the debt by allocating the surplus totally.

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