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14-Feb-2018 11:40 AM

SilkAir cost increase outpaces revenue gains in 4Q2017

SilkAir reported (13-Feb-2018) operating profit decreased by SGD11 million (USD8.3 million) year-on-year in 4Q2017 as higher expenditure outpaced revenue gains. Highlights include:

  • Revenue: Increased 4.5%, led by 18.4% growth in passenger carriage, partially offset by a 12.3% decline in yield;
  • Expenditure: Enlarged operations and a 12.9% increase in capacity resulted in a 9.8% increase in expenditure, mainly from higher net fuel cost, aircraft MRO costs and handling charges;
  • Fleet: Added and deployed three Boeing 737 MAX 8 aircraft. Fleet comprised three A319s, 10 A320s, 17 737-800s and three 737 MAX 8s with an average age of four years and seven months, as of 31-Dec-2017;
  • Network: Took over Scoot's Yangon service and transferred Kuching and Palembang services to Scoot. Deployed 737 MAX 8 to Cairns and Darwin. Kalibo, Langkawi and Pekanbau services will be transferred to Scoot in summer 2018. [more - original PR]

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