SIA net profit +12.8%, operating profit -19.8%

Singapore Airlines sees full-year profit rise to €234 million

Singapore Airlines reports that its net profits returned to growth in the 2012-13 financial year ending in March. However, the result was not as strong as many industry analysts were expecting as the economic climate and high fuel prices continued to make an impact.
The airline posted a 12.8% rise in net profits, taking group net profit to SG$379 million (€234 million) as revenues increased slightly by 1.6% on the previous year, driven by a 7.3% increase in the number of passengers carried.
A year ago, profit dropped by nearly 70% in the year to March 2012, even though revenues also rose slightly.
As reported yesterday, analyst forecasts at Reuters had expected SIA to post a 22% rise in net profit to SGD$409.6 million for the year to March 2013. But challenges such as fuel costs, intense competition and global economic stagnation ensured that yields fell and operating profit dropped 19.8% to SG$229 million.
Travel Weekly
[pictured: Singapore Airlines Boeing B777-200; courtesy Singapore Airlines]

x

Check Also

KrisFlyer, SIA, Singapore Airlines, blockchain, technology, wallet, spend, shopping, retail

SIA creates “blockchain-based loyalty wallet”

Singapore Airlines’ loyalty scheme will launch the “world's first blockchain-based loyalty digital wallet”.

Copenhagen, CPH, airport, Nordic, Stockholm, where, confirm, Air India, dreamliner, 787, new route, Delhi,

Air India to be split up and sold

Debt-heavy flag carrier links Delhi with Scandinavia.

iata, forecast, 20 year, China, USA, world, travel, air, airlines, demand, India, UK, Europe, Indonesia, Asia

Airbus: A380 production may end

But a deal with its biggest customer could still happen

Singapore Airlines, SIA, profit, year, operating, net, revenue, Korean air, quarter, 2016, 2017

Singapore Airlines flight on fire at Changi

Flames erupt from SIA Boeing aircraft on landing

premium economy, seating, SIA, Singapore Airlines, bid, upgrade, auction

SIA starts to auction seat upgrades

New bidding tool available invitation-only

pyjamas, Qantas, Singapore Airlines, premium, first class, luxury

Airlines go to war – over your pyjamas

Carriers battle over the finest exclusive nightwear