07 Feb '13, 10am

Singapore Air Third-Quarter Profit Misses Estimate on Yields via @BloombergNews

Singapore Air Third-Quarter Profit Misses Estimate on Yields via @BloombergNews

Singapore Airlines Ltd. , Southeast Asia’s biggest airline, reported profit that missed analyst estimates for a fifth consecutive quarter on cheaper fares to carry passengers and cargo. Net income rose 5.4 percent to S$142.5 million ($115 million) in the three months ended December, the airline said in a statement yesterday, missing the S$161 million average of four analysts’ estimates compiled by Bloomberg. Singapore Air shares fell to the lowest level in a week after saying yield from carrying passengers dropped 5.8 percent in the third quarter, trimming gains from selling more tickets. Chief Executive Officer Goh Choon Phong , 49, upgraded business- class cabins, sold a stake in Virgin Atlantic Airways Ltd. last year, and started operating a new budget carrier Scoot Pte as competition with Middle East carriers such as Emirates and low- fare airlines increases. “Disappoi...

Full article: http://www.bloomberg.com/news/2013-02-07/singapore-air-th...

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