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Singapore Airlines swings to S$138m net loss in Q4


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#1 flee

flee
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  • 10,053 posts

Posted 18 May 2017 - 07:49 PM

SINGAPORE: Singapore Airlines (SIA) on Thursday (May 18) reported a net loss of S$138 million in its fourth quarter from January to March, reversing from a S$225 million net profit in the same period last year.
 
Fuel costs before hedging increased $331 million in the quarter, due to a 50.7 per cent surge in average fuel prices and a stronger US Dollar against the Singapore Dollar. 
 
The company also said that passenger flown revenue fell $17 million despite a 5.5 per cent traffic growth.
 
"Intense competition continues to exert pressure on yields amidst persistent cost pressures," SIA said in a news release.
 

FULL-YEAR OPERATING PROFIT DOWN 9% TO $623 MILLION
 
 Intense competition continues to exert pressure on yields amidst persistent
cost pressures
 Our airline portfolio, multi-hub and new business strategies are taking shape
and have laid the foundation for growth
 Next phase of the SIA Group's transformation launched, to identify new
revenue-generation opportunities and significantly improve the cost base
 Final dividend of 11 cents per share 
 
SGX announcement:





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