SIA Group operating profit and net profit more than doubles in 1QFY2016

SIA Group revenue up 1% - financial highlights for three months ended 30-Jun-2015^:

• Revenue: SGD3733 million (USD2779 million), +1.4% year-on-year;
• Costs: SGD3622 million (USD2697 million), -0.6%;
• • Fuel: SGD1253 million (USD932.5 million), -8.8%;
  • Labour: SGD588.7 million (USD438.3 million), +1.7%;
• Operating profit: SGD111.4 million (USD82.9 million), +182%;
• • Singapore Airlines: SGD108 million (USD80.4 million), +140%;
  • SIA Engineering: SGD21 million (USD15.6 million), stable;
  • SilkAir: SGD5 million (USD3.7 million), +150%;
  • SIA Cargo: (SGD9 million) (USD6.7 million), compared to a loss of (SGD18 million) (USD13.4 million) in p-c-p;
  • Scoot: (SGD20 million) (USD14.9 million), compared to a loss of (SGD25 million) (USD18.6 million) in p-c-p;
• Net profit: SGD101.6 million (USD75.6 million), +110%;
• Passenger numbers: 7.3 million, -1.4%;
• • Singapore Airlines: 4.6 million, -1.7%;
  • SilkAir: 924,000, +6.2%;
  • Scoot: 482,000, +10.6%;
  • Tiger Airways: 1.3 million, -9.0%;
• Passenger load factor: 76.8%, -1.0 ppt;
• • Singapore Airlines: 76.3%, -1.4 ppt;
  • SilkAir: 70.1%, +0.6 ppt;
  • Scoot: 81.4%, +2.9 ppts;
  • Tiger Airways: 83.5%, -1.2 ppt;
• Passenger yield:
• • Singapore Airlines: SGD 10.7 cents (USD 8.0 cents), -1.8%;
  • SilkAir: SGD13.4 cents (USD 10.0 cents), +0.8%;
  • Scoot: SGD 5.2 cents (USD 3.9 cents), stable;
  • Tiger Airways: SGD 6.7 cents (USD 5.0 cents), +4.7%;
• SIA Cargo:
• • Cargo volume: 282,100 tonnes, +1.3%;
  • Cargo yield: SGD 30.5 cents (USD 22.7 cents), -7.6%;
• Total assets: SGD24,067 million (USD17,918 million);
• Total debt: SGD1714 million (USD1276 million). [more - original PR]

*Based on the average conversion rate at USD1 = SGD1.3432
^1QFY2016 results include for Tiger Airways, which was consolidated with effect from Oct-2014

SIA Group: "Advance passenger bookings for the July-September quarter are higher year-on-year, mainly supported by promotional content. There is weaker demand for Americas and Europe regions, reflecting the competitive environment. Yields are expected to remain under pressure." Source: Company statement, 29-Jul-2015.