03 Nov '11, 11am

SIA's half-year results fall 62% due to high fuel prices

SIA's half-year results fall 62% due to high fuel prices

Half-year profits at Singapore Airlines dived 62 per cent to $239 million compared to the same April to September period last year. -- ST PHOTO: ALPHONSUS CHERN By Karamjit Kaur AVIATION CORRESPONDENT Half-year profits at Singapore Airlines dived 62 per cent to $239 million compared to the same April to September period last year. The airline placed the blame mainly on high fuel prices. Group revenue grew slightly by 3 per cent to $7.28 billion, on the back of higher traffic and flat yields. Expenditure on the other hand shot up by 10 per cent to $7.14 billion. The total fuel bill jumped 35 per cent compared to a year earlier, adding $747 million to SIA's total costs.

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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