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3-Feb-2010 11:50 AM

SIA Group 3QFY2010 revenue up 10.9%, back in the black after two consecutive quarterly losses

SIA Group revenue up 10.9% - financial/traffic highlights for the three months ended 31-Dec-2009:

  • Revenue: USD2,428 million, +10.9% year-on-year;
  • Cost: USD2,195 million,-18.7%;
    • Fuel: USD729.8 million, -37.9%;
    • Labour: USD338.3 million, -26.3%;
  • Operating profit: USD229.0 million, -9.5%;
  • Profit before tax: USD281.3 million, -7.8%;
  • Net profit: USD294.6 million, +15.8%;
  • Passenger numbers: 4.4 million, -7.2%;
  • Passenger load factor: 82.4%, +3.9 ppts;
  • Passenger breakeven load factor: 79.0%, +6.3 ppts;
  • Passenger yield: USD 7.45 cents, -18.0%;
  • Passenger unit cost: USD 5.89 cents, -10.8%;
  • Cargo volume: 300,400 tonnes, -0.3%;
  • Cargo load factor: 65.1%, +6.7 ppts;
  • Cargo breakeven load factor: 61.0%, -2.4 ppts;
  • Cargo yield: USD 24.75 cents, -8.9%;
  • Cargo unit cost: USD 15.11 cents, -12.3%. [more][more - Perspective]

*Based on the conversion rate at USD1 = SGD1.41

Singapore Airlines: "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. The improvement in yields is also holding up. Although air cargo shows similar improvement, it is more tentative because of the excess of freighter capacity and the unidirectional nature of cargo flows. The business outlook for the Group in 2010 is encouraging but it must be acknowledged that uncertainties linger over the global economy," Company statement. Source: Singapore Airlines, 02-Feb-2010.

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