flee 5 Report post Posted July 30, 2009 The combination of the global economic downturn, the outbreak of Influenza A (H1N1) and fuel hedging resulted in a loss of $307 million for the first quarter ended June 2009. This is the first quarterly loss since the SARS crisis in 2003. Group revenue fell 30% from April – June 2008, down by $1,260 million, as carriage and both passenger and cargo yields declined, the former reflecting increased competition and promotional fare activities. Group expenditure at $3,191 million was $598 million (-15.8%) lower than the same quarter in the preceding financial year. The drop in the price of jet fuel provided relief of $1,140 million, partially offset by fuel hedging losses of $287 million (compared to hedging gains of $349 million last year). The Group recorded an operating loss of $319 million for the first quarter, against an operating profit of $343 million last year. More: http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_1C5194255C8F4739482576030033A61E/$file/NewsRelease1QFY0910.pdf?openelement Share this post Link to post Share on other sites
fenandri 3 Report post Posted July 30, 2009 really nice to hear that... Share this post Link to post Share on other sites
Andrew K 0 Report post Posted July 30, 2009 They're not alone. Looks like Lufthansa isn't immune either. "The airline, Europe's largest measured by turnover, said it had fallen to a net loss of €216m from a net profit of €381m a year ago." - Yahoo Finance Share this post Link to post Share on other sites
RoyRX 0 Report post Posted July 30, 2009 You got an issue with SQ being profitable? really nice to hear that... Share this post Link to post Share on other sites
Isaac 0 Report post Posted July 30, 2009 really nice to hear that... Oh my dear lord. Jaga sendiri dululah ! Share this post Link to post Share on other sites
Azri 0 Report post Posted July 31, 2009 really nice to hear that... Bad remark. But I suppose some people just say it our loud.... Share this post Link to post Share on other sites
jani 0 Report post Posted July 31, 2009 Yeah, that is true unfortunately.. Humans (myself included) are that way Share this post Link to post Share on other sites
Cheng Long 0 Report post Posted July 31, 2009 When SQ posted a loss, you know things are pretty tough for full service airlines.. Guess all the low fares and discounts are not sustainable if they keep making loss like this. Share this post Link to post Share on other sites
Azreen 0 Report post Posted August 1, 2009 Oh la la... Things are not so rosy!!! Share this post Link to post Share on other sites
leon t 0 Report post Posted August 4, 2009 If SIA can post a quarterly loss - then just imagine how bad MAS will be in for as even in good times when SIA makes a hefty profit, MH can lose money and make losses - so I wouldnt be so "glad" that SQ makes only a quarterly loss - as even during the SARS time, altho SQ makes quarterly loss but for its its full year, SQ actually makes good profit; even then BA and Cathay all make profits whilst MH posted losses. Share this post Link to post Share on other sites
Pieter C. 5 Report post Posted August 4, 2009 1st Quarter loss for AF-KL is also 426 million Euros Share this post Link to post Share on other sites
flee 5 Report post Posted August 4, 2009 If SIA can post a quarterly loss - then just imagine how bad MAS will be in for as even in good times when SIA makes a hefty profit, MH can lose money and make losses - so I wouldnt be so "glad" that SQ makes only a quarterly loss - as even during the SARS time, altho SQ makes quarterly loss but for its its full year, SQ actually makes good profit; even then BA and Cathay all make profits whilst MH posted losses. I have not looked at the actual comparisons but I do think that efficiency has something to do with it. MH might not be as efficient as SQ, so it cannot afford to have too much reduction in revenue. Share this post Link to post Share on other sites
Sri Ramani K. 0 Report post Posted November 11, 2009 SINGAPORE — Singapore Airlines reported a worse-than-expected quarterly loss as the global economic slowdown affected profit margins but said the outlook had improved. The airline, which warned in July that it might post a full-year loss if tough conditions persisted, had a net loss of 159 million Singapore dollars, or $114.6 million, for the three months through September, compared with a net profit of 324 million dollars a year earlier. Five analysts polled by Reuters had expected an average net loss of 38 million dollars. The loss was narrower than the 307 million dollars recorded in the previous three-month period. “Advance bookings indicate that demand for air travel has stopped declining and is gradually recovering,” Singapore Airlines said in a statement. The carrier has seen falling passenger and cargo demand this year as the global economic downturn has reduced business and leisure travel, leading the airline to reduce capacity by 11 percent in the 12 months from April. The airline also cut staff salaries and working hours. Analysts said the growing presence of budget airlines in the region was making life tougher for premium carriers like Singapore Airlines and Japan Airlines. Budget carriers like AirAsia of Malaysia and JetStar of Australia are on an aggressive expansion drive despite the economic downturn. JAL is undergoing a restructuring and negotiating for further government support after accumulating billions of dollars in losses. Singapore Airlines, 55 percent owned by the state investor Temasek Holdings, has delayed deliveries of eight airplanes from Airbus by 6 to 12 months. The world’s biggest air cargo carrier, Korean Air, posted a second consecutive quarterly net profit Tuesday, helped by lower fuel costs. Net profit from July through September rebounded to 264 billion won, or $229 million, from a loss of 684.1 billion won a year ago. http://www.nytimes.com/2009/11/11/business/global/11iht-air.html Share this post Link to post Share on other sites
KK Lee 5 Report post Posted November 11, 2009 Singapore Air sees high-end uptick, eyes FY profit SINGAPORE, Nov 11 — Singapore Airlines (SIA) , the world’s biggest airline by market value, has not given up hope of making a profit this financial year as it sees a recovery in premium-class bookings, its CEO said today. The airline, which said three months ago that it might post its first full-year loss if business conditions did not improve, said it has seen some recovery in business class bookings as banks relax restriction on business travels. “We are seeing a definitive pickup in bookings in business class. Banks have started to relax the rules on travel for their executives, so we started to see bankers in suits back in business class and first class,” SIA Chief Executive Chew Choon Seng said at a media briefing. He said the airline has reduced its fuel hedging to 22 per cent of its fuel needs by the end of October from over 30 per cent, as it sees oil prices staying at around current levels. SIA, like any other premium airlines, has seen falling passenger and cargo demand this year as a global recession hurt business and leisure travel, forcing it to reduce capacity by 11 per cent for the fiscal year starting April. The airline has also cut staff salaries and working hours. Chew said the Singapore flag carrier, 55 per cent-owned by state investor Temasek Holdings, has no plans to cut its capacity further and would reinstate routes that it had cut previously. He said the company would now focus on generating yields instead of gaining market share. Singapore Airlines reported yesterday a worse-than-expected quarterly loss as the global economic slowdown hit margins, but the airline said the outlook has improved. It reported a net loss of S$159 million (RM381.6 million) compared with a net profit of S$324 million a year ago, following a net loss of more than S$300 million in the first quarter of this financial year. Analysts polled by Thomson Reuters predicted the company to post a full-year profit of S$132.4 million in the financial year of 2009/10 from S$1.06 billion in previous year. Chew also said that the company was still studying the possibility of listing its budget-carrier unit Tiger Airways and has not set a definitive time frame yet. Reuters Share this post Link to post Share on other sites
KK Lee 5 Report post Posted February 2, 2010 SIA Q3 net profit up 19.7% SINGAPORE Airlines (SIA) returned to profit in the three months to the end of December following losses in the two preceding quarters. It posted a 19.7 per cent rise in quarterly profit on Tuesday on a recovery in cargo volumes and improving passenger demand, but the number was short of expectations. The company, which is 55 per cent-owned by state investor Temasek Holdings, reported a net profit of $403.7 million in its third quarter compared to a net profit of $337.2 million a year ago, rebounding from two quarters of losses. Analysts had forecast an average net profit of $448 million for SIA, which would have been its best quarterly profit since March 2008. More from http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_485428.html Share this post Link to post Share on other sites
