Singapore Airlines profit almost doubles

But intense competition in Asia still remains
Singapore Airlines is reporting a 96% rise in its third-quarter operating profit, pushed up largely by lower fuel costs. But it warns that continuing intense competition in Southeast Asia will add pressure on its future performance.
The airline posted an operating profit of SGD$288 million (€184 million), up 96% from the same period a year ago. Net profit was up 35.5% to SGD$275 million.
Singapore Airlines is known as a benchmark for Asia’s full-service airline industry, according to Reuters news agency. Its business model focuses on flying passengers within Asia and to Europe, Australia and the United States via its hub at Singapore’s Changi airport. It also has a stake in the low-cost segment, with Tiger Airways and Scoot.
The airline said it expects the challenging environment to persist.
“On the competitive front, expansion of other full-service airlines as well as low-cost carriers, particularly in Southeast Asia, will continue to exert pressure on loads and yields,” the carrier said.
Reuters

x

Check Also

Delta, airlines, United, American Airlines, pay, pilots, bonus, wage, profit share, usa, captains

Airline gives employees $1.1bn

Delta Airlines is being generous, and people working for its competitors are not too happy.

Star Alliance, airlines, digital, technology, share, data, members, mobile, app, website, seat, book, interoperability

Star Alliance improves digital inter-usability

The alliance creates a digital services platform for customers using more than one member airline.

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.

Israel wins using “marketing revolution”

How did Israel achieve a 25% increase in visitors in 2017?

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