Singapore Airlines records profits

Singapore Airlines records profits

Singapore Airlines has posted $216 million profits, maintaining an unbroken record of full-year profitability. Net profit from the third and fourth quarters covered the airline’s $466 million loss recorded in the first half. Group revenue rose 0.4% with a higher passenger and cargo carriage. Expenditure reduced by 7.6% although fuel outgoings increased 29.1%. However, this was offset by a reduction of $524 million in hedging losses, from $543 million in January - March 2009 to $19 million for the same period this year. Singapore Airlines now has 108 aircraft in its fleet including three new A330-300s.It will increase its services to Hong Kong, Seoul and New Delhi during the summer and launch a new service to Tokyo’s Haneda airport. In the year to March 2011, the Parent Company expects to take delivery of four A380-800s and eight A330-300s. One B747-400 (to be returned at end of lease) and ten B777s (four sold and six leased out) are expected to leave the fleet.

Gary Marshall
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Gary Marshall
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