Singapore Airlines Group reports capacity injections and aggressive fares from competitors

Singapore Airlines Group attributed (29-Jul-2015) reduced passenger revenue in 1QFY2015/16 to the erosion of yields by significant capacity injections and aggressive fares from competitors, particularly on Americas and Europe routes. The share of losses of associated companies decreased mainly as a result of losses recorded by Tigerair in FY2015, partially offset by losses from Vistara and Virgin Australia in FY2016. The share of results from JV companies weakened due to losses incurred by NokScoot and weaker performance by SIA Engineering's JVs. The company also noted an absence of gains from aircraft disposals recorded in FY2015. [more - original PR] [more - original PR - 2]