17 May '18, 12pm

Singapore Airlines beats expectations with highest profit in seven years

SINGAPORE (Reuters) - Singapore Airlines Ltd (SIAL.SI ) on Thursday topped market expectations by reporting a 148 percent rise in full-year net profit to the highest level since 2011, as passenger and cargo revenue rose and it benefited from a transformation program. FILE PHOTO: A woman walks past a Singapore Airlines (SIA) logo at a ticketing booth at Changi airport in Singapore May 14, 2013. REUTERS/Edgar Su However, it warned of pressures from intense competition, costs and rising fuel prices despite strong bookings for the coming months and a continued stabilization in airfares. The carrier, a benchmark for Asia’s premium airlines, made S$893 million ($665.6 million) in the year ended March, up from S$360 million a year earlier and 28 percent higher than the S$697 million average forecast from 14 analysts polled by Thomson Reuters I/B/E/S. A strong fourth quarter marke...

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

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