Singapore Airlines falls on earnings report, Cathay Pacific also lower, Qantas gains
Singapore Airlines reported a significant swing in operating and net profitability in its third fiscal quarter to 31-Dec-2009, as yields showed some sign of stabilisation as passenger demand improved and cargo volumes rebounded.
SIA stated, "passenger loadings in January and bookings in hand indicate that the recovery in the third quarter is likely to continue in the final quarter of the current financial year", adding, "the business outlook for the group in 2010 is encouraging, but it must be acknowledged that uncertainties linger over the global economy." See the full report: Singapore Airlines in recovery mode, though economic uncertainties persist
Singapore Airlines' shares fell 1.4% yesterday, taking falls since the start of 2010 to 8.6% (against a 6% fall in the broader Singapore benchmark index).
Elsewhere, Cathay Pacific's shares fell 1.4% yesterday, taking the stock's losses so far in 2010 to 9.4%. Qantas' shares advanced 0.7% yesterday
Asia Pacific selected airlines daily share price movements (% change): 02-Feb-2010
Source: Centre for Asia Pacific Aviation & Reuters