The Singapore Airlines Group earned an operating profit of SG$39 million (US$31.2 million) in the first quarter of the 2014-15 financial year, $43 million (-52.4 per cent) lower than last year. After non-operating and exceptional items, Group net profit was $35 million, down $87 million (-71.3 per cent) over the same period last year. Group revenue fell $158 million (-4.1 per cent) to $3,682 million. Passenger revenue declined year-on-year on the back of weaker yields amid intense … [Read more...] about SIA Cargo revenue down despite slight yield gain
Singapore Airlines
Singapore Airlines latest to end shark fin shipments
Singapore Airlines has followed the lead of other major airlines by announcing it will end the carriage of shipments of shark fins. "SIA Cargo has been carrying out a thorough review, taking into account the increasing concerns around the world related to shark finning. With effect from August 1, it will no longer accept the carriage of shark fin," Nicholas Ionides, SIA vice-president of public affairs said in an email. The carrier came under increasing pressure from environmental … [Read more...] about Singapore Airlines latest to end shark fin shipments
SIA and Tata to start new Indian airline
Singapore Airlines and India's holding conglomerate Tata Sons, have signed a Memorandum of Understanding and applied for Foreign Investment Promotion Board (FIPB) approval to establish a new full-service airline in India to based in New Delhi following regulatory approvals. The two say the creation of the new airline "will help further stimulate demand for air travel" in the country. Tata Sons will own 51 per cent and Singapore Airlines will own 49 per cent. Details of the … [Read more...] about SIA and Tata to start new Indian airline
SIA places US$17 billion Airbus/Boeing order
Singapore Airlines has placed an order for 30 more A350-900s and 30 B787-10Xs in deals valued at more than US$17 billion. The agreement with Airbus comprises 30 firm-ordered A350-900s for deliveryfrom the 2016/17 financial year, plus options for 20 more. The options may be converted into firm orders for larger A350-1000s, the carrier added. The agreement with Boeing comprises 30 firm-ordered B787-10Xs for delivery from the 2018/19 financial year, but is conditional upon Boeing formally launching … [Read more...] about SIA places US$17 billion Airbus/Boeing order
Singapore Airlines sees net profits nosedive 69%
High fuel prices and an uncertain global economy weighed heavily on the Singapore Airlines Group earnings in the 2011-12 financial year, pushing net profit down by S$756 million (US$589.6 million) or 69 per cent to S$336 million. Group revenue grew by $333 million (up two per cent) to $14.9 billion on the back of a 3.6 per cent improvement in passenger carriage, but partially offset by weaker yields. The carrier – the world’s No.2 carrier by market value – said jet fuel … [Read more...] about Singapore Airlines sees net profits nosedive 69%
South Africa's turn for price-fixing allegations
Eight air cargo carriers including South African Airways Cargo face allegations of fixing the price of fuel surcharges and freight rates for cargo flown in and out of South Africa. The South African Competition Commission has asked the country's Competition Tribunal to impose an administrative penalty of 10 per cent of annual turnover on each of the carriers involved. Other cargo carriers facing price fixing allegations include British Airways World Cargo, Air France Cargo, KLM Cargo, Alitalia … [Read more...] about South Africa's turn for price-fixing allegations