Singapore Airlines Group reports operating profit in Mar-2015 quarter

Singapore Airlines Group revenue up 7% - financial highlights:

• Three months ended 31-Mar-2015:
• • Revenue: SGD3880 million (USD2859 million), +6.9% year-on-year;
  • Operating costs: SGD3788 million (USD2792 million), +2.7%;
  • • Fuel: SGD1285 million (USD946.8 million), -7.1%;
    • Labour: SGD590.1 million (USD434.9 million), +2.4%;
  • Operating profit: SGD91.9 million (USD67.7 million), compared to a loss of SGD60.3 million (USD44.4 million) in p-c-p;
  • Net profit: SGD39.6 million (USD29.2 million), +46.7%;
  • Passenger numbers:
  • • Singapore Airlines: 4.5 million, -0.1%;
    • SilkAir: 883,000, +7.2%;
  • Passenger load factor:
  • • SIA: 76.1%, -0.9 ppt;
    • SilkAir: 69.1%, -0.6 ppt;
  • Passenger yield:
  • • SIA: SGD 11.4 cents (USD 8.8 cents), +2.7%;
    • SilkAir: SGD 14.7 cents (USD 11.4 cents), +7.3%;
  • SIA Cargo:
  • • Cargo volume: 276,500 tonnes, +2.0%;
    • Cargo yield: SGD 31.7 cents (USD 24.6 cents), -2.8%;
• 12 months ended 31-Mar-2015:
• • Revenue: SGD15,566 million (USD12,080 million), +2.1%;
  • Operating costs: SGD15,156 million (USD11,763 million), +1.1%;
  • • Fuel: SGD5580 million (USD4330 million), -2.1%;
    • Labour: SGD2335 million (USD1812 million), -0.1%;
  • Operating profit (loss): SGD409.4 million (USD317.7 million), +191%;
  • • Singapore Airlines: SGD340 million (USD263.9 million), +32.8%;
    • SIA Engineering: SGD84 million (USD61.9 million), -27.6%;
    • SilkAir: SGD41 million (USD30.2 million), +17.1%;
    • SIA Cargo: (SGD22 million) (USD16.2 million), compared to a loss of SGD100 million (USD73.7 million) in p-c-p;
  • Net profit: SGD367.9 million (USD285.5 million), +2.3%;
  • Passenger numbers:
  • • SIA: 18.7 million, +0.6%;
    • SilkAir: 3.6 million, +4.2%;
  • Passenger yield:
  • • SIA: SGD 11.2 cents (USD 8.7 cents), +0.9%;
    • SilkAir: SGD 13.9 cents (USD 10.8 cents), +10.1%;
  • SIA Cargo:
  • • Cargo volume: 1.1 million tonnes, +0.6%;
    • Cargo yield: SGD 32.8 cents (USD 25.5 cents), +0.3%;
  • Total assets: SGD23,921 million (USD18,565 million);
  • Cash and bank balances: SGD5254 million (USD4078 million);
  • Total debt: SGD1740 million (USD1350 million). [more - original PR]

*Based on the average conversion rate at USD1 = SGD1.3569 for three months ended 31-Mar-2015
*Based on the average conversion rate at USD1 = SGD1.2885 for 12 months ended 31-Mar-2015

SIA Group: "Market conditions remain challenging amid an uncertain global economic outlook. Demand in key markets is soft, primarily on Americas and European routes. Competition remains intense as other airlines continue to inject capacity with aggressive pricing. Depreciation of key revenue-generating currencies, such as the Australian Dollar, Japanese Yen and Euro, will place further pressure on yield and demand, while the stronger US Dollar will increase operating costs, year-on-year." Source: Company statement, 14-May-2015.