13 Feb '18, 11am

Singapore Airlines posts 62 pct surge in Q3 net profit, sees tough market

* Q3 net profit jumped to $216.3 mln * Higher passenger numbers, cargo revenue offset ticket price fall * 40.7 percent of jet fuel hedged for Q4 (Adds details of results, company comments) By Jamie Freed SINGAPORE, Feb 13 (Reuters) - Singapore Airlines posted a 62 percent jump in quarterly profit, its best third-quarter earnings in seven years, but forecast challenging market conditions due to rising fuel prices and aggressive competition from rivals. The carrier, a benchmark for Asia’s premium airlines, made S$286 million ($216.29 million) in the three months ended Dec. 31, up from S$177 million a year earlier when writedowns had cut into earnings. Operating profit rose 13 percent to S$330 million during the quarter as growing passenger numbers and higher cargo revenue offset a decline in ticket prices and higher fuel costs. The airline, like Hong Kong-based rival Cathay ...

Full article: https://www.reuters.com/article/singapore-air-results/upd...

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