SIA reports quarterly profit

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By TESTCustomwebLP TESTCustomwebLP May 15, 2015 13:53

SIA reports quarterly profit

Singapore Airlines has reported a 47% rise in net profit for the three months to March 31, 2015 as its fuel bill declined. Net profit rose to Sg$39.6 million ($30.05 million) from Sg$27.0 million in the same period a year ago on revenue of Sg$3.88 billion, up from Sg$3.63 billion.

For the full year to March, net profit jumped 2.34% to Sg$367.9 million from Sg$359.5 million. Full-year revenue was Sg$15.57 billion, up 2.1% from Sg$15.24 billion.

Fourth quarter performance was boosted due to reduced operating expenditure from lower fuel prices, and improved passenger yields that benefited from “stringent inventory control”, SIA said.

Fuel costs, which account for over a third of expenditures, fell to Sg$1.29 billion from Sg$1.38 billion during the quarter.

SIA subsidiary, Tiger Airways, has reported a widening of the Sg$223 million loss posted in the year-ago period to Sg$264.2 million. SIA said the outlook remains tough.

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By TESTCustomwebLP TESTCustomwebLP May 15, 2015 13:53