Singapore Airlines (SIA) has said its fourth quarter net profit soared more than six-fold as the global economic rebound boosted travel and cargo demand. Net profit in the three months to March was S$278 million (US$197.5 million), up from $42 million in the same quarter the year before, the company said in a statement. Together with the $404 million net profit in the third quarter, the fourth quarter earnings reversed $466 million in losses recorded in the financial first half. The airline … [Read more...] about Singapore Airlines' Q4 net profit up six-fold
Singapore Airlines
Singapore Airlines’ Q4 net profit up six-fold
Singapore Airlines (SIA) has said its fourth quarter net profit soared more than six-fold as the global economic rebound boosted travel and cargo demand. Net profit in the three months to March was S$278 million (US$197.5 million), up from $42 million in the same quarter the year before, the company said in a statement. Together with the $404 million net profit in the third quarter, the fourth quarter earnings reversed $466 million in losses recorded in the financial first half. The airline … [Read more...] about Singapore Airlines’ Q4 net profit up six-fold
SIA reports second straight quarterly loss
Singapore Airlines (SIA), the world's largest airline by market value, has posted its second straight quarterly loss with a second quarter net loss of S$159 million (US$114.6 million) compared with a net profit of S$324 million a year ago. This follows from a net loss of more than S$300 million in the first quarter of this financial year. SIA Cargo posted an operating loss of US$193 million with yields averaging just $0.20 per load tonne kilometer, down almost a third over the same period in the … [Read more...] about SIA reports second straight quarterly loss
Garuda latest to be fingered for price fixing
As part of the on-going global investigation into price fixing within the air cargo industry, Australia’s consumer watchdog has this week started proceedings against Garuda, accusing the Indonesian carrier of participating in a global cargo fuel surcharge cartel. The Australian Competition and Consumer Commission (ACCC) earlier initiated proceedings against Singapore Airlines Cargo in December 2008, Cathay Pacific Airways in April of this year and Emirates in August. The three have … [Read more...] about Garuda latest to be fingered for price fixing
SINGAPORE: First quarterly loss in six years for SIA
Singapore Airlines has posted its fi rst quarterly loss since 2003, with a S$307.1 million (US$212.6 million) loss that compared to a S$358.6 million profit in the fiscal first quarter of 2008-09. The global economic downturn, swine flu and unfavorable fuel hedges dragged the carrier into the red. Group revenue during the quarter ended 30 June dropped 30.5 per cent to S$2.87 billion while expenses were reduced 15.8 per cent to S$3.19 billion. A S$287 million loss on fuel hedges partially off … [Read more...] about SINGAPORE: First quarterly loss in six years for SIA
First quarterly loss in six years for SIA
Singapore Airlines has posted its first quarterly loss since 2003, with a S$307.1 million (US$212.6 million) loss that compared to a S$358.6 million profit in the fiscal first quarter of 2008-09. The global economic downturn, swine flu and unfavorable fuel hedges dragged the carrier into the red. Group revenue during the quarter ended June 30 dropped 30.5 per cent to S$2.87 billion while expenses were reduced 15.8 per cent to S$3.19 billion. A S$287 million loss on fuel hedges partially offset … [Read more...] about First quarterly loss in six years for SIA