SIA's Q3 operating profit nearly doubles
SIA reported a near doubling of its Q3 operating profit, helped by lower fuel costs, but said intense competition in Southeast Asia will put pressure on its performance. The airline reported an operating profit of SGD288m (US$205m), up 96% from a year ago, while net profit rose 35.5% to SGD275m. The carrier, a benchmark for Asia's full-service airline industry, said it expects the challenging operating environment to persist. "On the competitive front, expansion of other full-service airlines as well as low-cost carriers, particularly in Southeast Asia, will continue to exert pressure on loads and yields," it said. "While more relief could arise from lower fuel prices, which have declined to a 12-year low, fuel continues to make up a significant portion of the Group's expenditure," SIA said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-02-05/star/sias-q3-operating-profit-nearly-doubles
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SIA's Q3 operating profit nearly doubles
SIA reported a near doubling of its Q3 operating profit, helped by lower fuel costs, but said intense competition in Southeast Asia will put pressure on its performance. The airline reported an operating profit of SGD288m (US$205m), up 96% from a year ago, while net profit rose 35.5% to SGD275m. The carrier, a benchmark for Asia's full-service airline industry, said it expects the challenging operating environment to persist. "On the competitive front, expansion of other full-service airlines as well as low-cost carriers, particularly in Southeast Asia, will continue to exert pressure on loads and yields," it said. "While more relief could arise from lower fuel prices, which have declined to a 12-year low, fuel continues to make up a significant portion of the Group's expenditure," SIA said. <br/>
