Friday, November 7, 2008

Singapore Airlines Net Profit Declines 36.2 Percent

Singapore Airlines' 9V-SWJ: Boeing 777-300(ER)

The Singapore Airlines (SIA) has announced on Thursday (6/11/2008) its net profit in the second quarter of fiscal year 2008 decreased 36.2 percent from the previous year and is estimated to continue to decline because of increasing global economic crisis.
Airline revenue is 324 million Singapore dollars (218 million U.S. dollars) during the three months to October 2008, down from 580 million dollars.
Revenue reached 4.38 billion dollars, up 9.4 percent from the same quarter last year, but spending increased 20.3 percent to 4.15 billion dollars because of the increase in fuel prices, SIA said in a statement.
The airline said fuel expenditure to reach 1.92 billion dollars during the quarter, or reach 46 percent of total expenditures.