Singapore Airlines faces net loss 99 million USD in Q1 2017

Published on : Friday, May 19, 2017

singapore airlinesCiting intense competition as a reason, Singapore Airlines announced a net loss of 138 million Singapore dollars (99.12 million U.S. dollars) in the quarter from January to March. This is in comparison to compared to 225 million Singapore dollars net profit in the same period a year ago.

 

The poor earnings were mainly due to “intense competition which continues to exert pressure on yields amidst persistent cost pressures,” said SIA.

 

Looking forward, SIA said “intense competition arising from excess capacity in major markets, alongside geopolitical and economic uncertainty, continue to exert pressure on yields.”

 

Nevertheless, strategic policies to address structural changes are starting to demonstrate positive results, it added.

 

SIA said its full-year net profit shrank by 55.2 percent to 360 million Singapore dollars (258.60 million U.S. dollars) partly due to net loss recorded in the January-March period.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 wtm_london17
  • 04 AIME 2018
  • 12 indywood 17
  • 16 TT Warsaw 2017
  • 18 TTF17
  • 19 Emitt 18
  • 19 IITM
  • 43 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com