SINGAPORE: Singapore Airlines (SIA) said Thursday its fiscal second quarter net profit fell 36.2 per cent from the previous year and the outlook remained weak due to slowing travel demand and volatile currencies.
The airline earned S$324 million in the three months to September, down from S$508 million. Revenue came in at S$4.38 billion, up 10.4 per cent from the same quarter last year.
Expenditure, however, surged 20.3 per cent to S$4.15 billion led by higher fuel costs, SIA said in a statement.
"The financial turmoil around the world and weak consumer confidence are impacting demand for air transportation," it said.
"Although advance bookings for the immediate next quarter are holding up reasonably well, there are signs of weakness beyond that. Fuel prices have retreated, but fuel remains the biggest single item of operating expenditure."
http://www.channelnewsasia.com/stori...388080/1/.html
The airline earned S$324 million in the three months to September, down from S$508 million. Revenue came in at S$4.38 billion, up 10.4 per cent from the same quarter last year.
Expenditure, however, surged 20.3 per cent to S$4.15 billion led by higher fuel costs, SIA said in a statement.
"The financial turmoil around the world and weak consumer confidence are impacting demand for air transportation," it said.
"Although advance bookings for the immediate next quarter are holding up reasonably well, there are signs of weakness beyond that. Fuel prices have retreated, but fuel remains the biggest single item of operating expenditure."
http://www.channelnewsasia.com/stori...388080/1/.html
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