Second quarter operating profit improves to $87 million

Published on : Tuesday, November 12, 2013

singapore airlinesThe Group earned an operating profit of $87 million in the second quarterof the 2013-14 financial year, an increase of $17 million (+24.3%) over the samequarter last year.

 

Group revenue grew $107 million (+2.8%) to $3,901 million on the backof 5.0% growth in passenger carriage, partially offset by a decline in yields.Promotional activities undertaken amid intense competition and the continued strengthof the Singapore dollar against major revenue-generating currencies drove yields downby 3.5%.

 

On the cost side, Group expenditure rose $90 million (+2.4%) to $3,814
million. The increase was principally due to higher staff and non-fuel variable costs
which rose in line with the increase in capacity. Passenger unit cost remained constant
at 9.1ยข/ask.

 

Group net profit for the second quarter was $160 million, an improvement
of $70 million (+77.8%) from the corresponding period a year ago, mainly attributable
to higher operating profit, share of profits from associated companies and gains from
the sale of aircraft.

 

Source:- Singapore Airline

 

 

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