SIA Group operating profit excluding Tigerair down in 3QFY2015

SIA Group revenue up 1% - financial highlights for three months ended 31-Dec-2014:

• Total revenue: SGD3914 million (USD3022 million), +1.0% year-on-year;
• Total costs: SGD3771 million (USD2911 million), +1.3%;
• • Fuel: SGD1418 million (USD1095 million), +0.6%;
• Operating profit: SGD143 million (USD110.4 million), -5.3%;
• • Singapore Airlines: SGD87 million (USD67.2 million), -33.1%;
  • SIA Engineering: SGD24 million (USD18.5 million), -4%;
  • SilkAir: SGD18 million (USD13.9 million), +200%;
  • SIA Cargo: SGD17 million (USD13.1 million), compared to a profit of SGD1 million (USD772,000) in p-c-p and marking its best third quarter result since FY2011;
• Passenger numbers:
• • SIA: 4.7 million, -0.8%;
  • SilkAir: 945,000, +5.4%;
• Passenger load factor:
• • SIA: 78.3%, -1.1 ppt;
  • SilkAir: 72.2%, +2.2 ppts;
• Passenger breakeven load factor:
• • SIA: 79.1%, -0.5 ppt;
  • SilkAir: 68.8%, -4.5 ppts;
• Passenger yield:
• • SIA: SGD 11.5 cents (USD 8.9 cents), +2.7%;
  • SilkAir: SGD14.1 cents (USD 10.9 cents), +7.6%;
• Passenger unit costs:
• • SIA: SGD 9.1 cents (USD 7.0 cents), +2.2%;
  • SilkAir: SGD 9.7 cents (USD 7.5 cents), +1.0%;
• SIA Cargo:
• • Cargo volume: 291,900 tonnes, +0.9%;
  • Cargo load factor: 65.1%, +1.6 ppt;
  • Cargo breakeven load factor: 64.6%, -0.4 ppt;
  • Cargo yield: SGD 33.3 cents (USD 25.7 cents), -0.3%;
• Total assets: SGD23,514 million (USD18,153 million);
• Total debt: SGD1755 million (USD1355 million). [more - original PR]

*Based on the average exchange rate of USD1 = SGD1.2953

SIA Group: "Advance passenger bookings for the January-March quarter are positive, largely attributable to Chinese New Year demand. Competition remains intense, however, and efforts to stimulate demand in weaker markets will keep yields under pressure. Airfreight demand has seen a moderate recovery recently, but competitive pressure on yield is expected to continue due to excess capacity in the market." Source: Company statement, 06-Feb-2015.