Business Round-Up
SIA Group net profit up 6%
March 1st 2013
The Singapore Airlines (SIA) Group recorded a third quarter net profit of S$143 million (US$115.4 million), up 6% year-on-year. However, an operating profit of S$131 million was 17% lower for the quarter ending December 31. Read More »
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| Singapore Airlines: international passenger market remains challenging |
Sales of aircraft, spares and engines helped boost profits, but cargo operations once again performed poorly. Group revenue fell 0.4% to S$15 million mainly from lower cargo revenue due to depressed yields (down 3.5%) and poorer loads (down 10%).
For the nine months to December 31, the SIA Group posted a net profit of S$311 million, a year-on-year decline of 17%. Operating profit was 6% down to S$273 million. Revenue improved 3% to S$11.4 billion.
A company statement said the outlook for international passenger travel continued to be “challenging” while the cargo market remained “depressed”.
