Passenger growth lifts SIA’s Q3 results
SIA group operating profit grew 15.7% during Q3 to S$449m (US$323m) on the back of strong growth in the passenger business, and despite declining cargo earnings. Group revenue increased year-on-year by 3% to $4.47b during the quarter ending Dec 31 2019. This was driven by a $239m – or 7% – increase in passenger revenue, which, SIA says, was boosted by the group’s transformation programme that has increased sales and cut costs. Traffic grew 8.3%, while capacity as measured in ASKs increased by 4.9%. SIA notes that the coronavirus outbreak poses “significant challenges” and that demand to mainland China has been severely affected. The airline group already has “drastically reduced” its services to the country. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-02-17/star/passenger-growth-lifts-sia2019s-q3-results
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Passenger growth lifts SIA’s Q3 results
SIA group operating profit grew 15.7% during Q3 to S$449m (US$323m) on the back of strong growth in the passenger business, and despite declining cargo earnings. Group revenue increased year-on-year by 3% to $4.47b during the quarter ending Dec 31 2019. This was driven by a $239m – or 7% – increase in passenger revenue, which, SIA says, was boosted by the group’s transformation programme that has increased sales and cut costs. Traffic grew 8.3%, while capacity as measured in ASKs increased by 4.9%. SIA notes that the coronavirus outbreak poses “significant challenges” and that demand to mainland China has been severely affected. The airline group already has “drastically reduced” its services to the country. <br/>
