SIA posts Q2 profit

Dino D'Amore
By Dino D'Amore November 13, 2013 14:51

SIA posts Q2 profit

Singapore Airlines Group earned an operating profit of $87 million in the second quarter of the 2013-14 financial year, an increase of $17 million (+24.3%) over the same quarter last year. Group revenue grew $107 million (+2.8%) to $3,901 million on the back of 5.0% growth in passenger carriage, partially offset by a decline in yields.

Promotional activities undertaken amid intense competition and the continued strength of the Singapore dollar against major revenue-generating currencies drove yields down by 3.5%.

On the cost side, Group expenditure rose $90 million (+2.4%) to $3,814 million. The increase was principally due to higher staff and non-fuel variable costs which rose in line with the increase in capacity. Passenger unit cost remained constant at 9.1¢/ask.

Group net profit for the second quarter was $160 million, an improvement of $70 million (+77.8%) from the corresponding period a year ago, mainly attributable to higher operating profit, share of profits from associated companies and gains from the sale of aircraft.

Dino D'Amore
By Dino D'Amore November 13, 2013 14:51
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