Monday, April 27, 2015   

Singapore Airlines profit slumps in first quarter
(07-30 18:45)

Singapore Airlines said Wednesday its financial first quarter net profit plunged 71.4 percent from the previous year, weighed down by lower passenger and cargo revenue.
Net profit in the three months to June came in at SG$34.8 million, down from Sg$121.8 million in the same period last year, the national flag-carrier said in a statement.
Group revenue fell 4.1 percent to SG$3.68 billion.
"Passenger revenue declined year-on-year on the back of weaker yields amid intense competition, and unforeseen events that depressed travel demand in some key Asian markets,'' it said, without specifying details on what events had caused a drop-off in passengers.
SIA said cargo revenue also fell "as the airfreight market continued to be affected by excess capacity''.
It added that losses from associated companies, in particular budget carrier Tiger Airways, contributed to the decline in net profit.
"The outlook for the air transportation industry has become more challenging with continuing uncertain global economic climate, geo-political concerns in the region and elevated fuel prices,'' it said. --AFP   
Other Business breaking news:
EU clears 19 genetically modified products (04-24 20:33)
China sales lift Astra Zeneca revenue (04-24 20:33)
Greece sells gambling operation (04-24 20:29)
European stocks higher awaiting Greek update (04-24 20:27)
Sui Yang named alternate chief executive at BoC HK (04-24 18:28)
Athens stocks leap by 4.4pc on hopes of EU deal (04-24 18:11)
HSBC ponders head office location (04-24 17:38)
Hang Seng breaks through 28,000 (04-24 16:35)
Nikkei closes in negative territory (04-24 14:36)
US crude falls to US$57.42 in Asian trade (04-24 14:28)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.