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

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