SIA reports lower net profit for Q1, but operating profit rises

[9V-JKL]

http://www.businesstimes.com.sg/comp...g-profit-rises

SINGAPORE Airlines (SIA) reported a net profit of S$235.1 million for the first quarter ended June 30, 2017, down about 8.4 per cent from a year ago.

The drop in net profit was due to the absence of last year's gain on SIA Engineering's divestment of its 10 per cent stake in Hong Kong Aero Engine Services (HAESL) and special dividends received from HAESL. This was partially offset by higher operating profit and lower share of losses from associated companies.

At the operating level, operating profit for the quarter jumped 45.3 per cent to S$280.8 million.

Revenue edged up 5.6 per cent to S$3.86 billion while earnings per share fell from 21.7 Singapore cents to 19.9 cents.

[9V-JKL]

http://www.singaporeair.com/saar5/pd...r-q1fy1718.pdf

During the April-June quarter, the Parent Airline Company put four more A350-900s into service. One A330-300 and one A380-800 were removed from service in preparation for lease return. As at 30 June 2017, the operating fleet of the Parent Airline Company comprised 108 passenger aircraft (53 777s, 22 A330-300s, 18 A380-800s and 15 A350-900s), with an average age of 7 years and 7 months.