Singapore Airlines reports high profit

Singapore Airlines (SIA) has reported a 148% increase in full-year net profit to the highest level since 2011. Revenue was up by 6.3% to S$15.8 billion for the full year, with improvements across all business lines, outpacing a 3.5% rise in costs, including an 18% increase in fuel. In the fourth quarter ended March 31, SIA operating profit rose to S$214 million from S$27 million in the prior-year period. The main airline booked a quarter profit of S$137 million profit compared to a loss of S$41 million in the same period last year. SIA credited transformation initiatives including a new