The airline is offering the basic fare from Colombo at 9,000 rupees one way but promotional fares are on offer for as low as 3,480 rupees one way in November.
"We like most of our destinations to be served daily," Tiger Airways' commercial director Dave Perring told LBO in an interview shortly after the launch.
"Operating a less than daily frequency allows us to understand the market and gradually greater demand so that we can step towards a daily service."
Budget airlines are point-to-point carriers where passenger can choose connecting flights from the same airline or others, pay for baggage based on weight, and opt out of meals if they do not want it."We do not target a specific market segment by purpose of travel," Perring said.
"What we being is a different price point, because we unbudle a lot of the services that traditional airlines lump together. So we are able to make the price of the flight very reasonable.
"But then if you require baggage, if you like to pick your seat, if you like to board the aircraft early, if you need a meal, you pay for that."
About 25 percent of all seats out of Singapore's Changi airport were low cost, Perring told LBO in June.
Budget airlines have taken international air traffic by storm as the strangle hold of mostly state-own full service carriers was loosened and freedoms given to people through de-regulation.
Through controls, regulations and state ownership, air travel was limited to the richer or 'premium' markets for decades, despite major advances in engines and aircraft development which lowered operating costs.
Budget travellers typically book online with credit or debit cards, but in Sri Lanka the airline was relying more on travel agents as the market has not yet matured.
Thai Air Asia added Bangkok-Colombo flights in 2012. UAE based Air Arabia and flyDubai also operates to Sri Lanka as budget carriers expand capacity to Colombo. Sri Lanka is seeing a tourism boom after the end of a 30-year war.
Sri Lanka also has a state-run budget carrier, Mihin Air.
In the quarter to September 2012 Tiger Airways group, which is connected to state-run Singapore Airlines, lost 18 million US dollars, improving from a loss of 50 million dollars a year earlier.
The group includes Tiger Australia, operates 30 aircraft. Associates Mandala Airlines in Indonesia and SE Air in the Philippines
Tiger Singapore made profits but Tiger Australia lost money, though lower than last year, the airline said in a statement.
The airline has said it is planning to sell 60 percent of the Australian unit to Virgin Australia.