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28-Jul-2017 9:27 AM

Singapore Airlines Group operating profit increases 45% in Q1FY2018, outlook remains 'challenging'

Singapore Airlines Group reported (27-Jul-2017) the following financial highlights for three months ended 30-Jun-2017:

  • Revenue: SGD3864 million (USD2775 million), +5.6% year-on-year;
  • Costs: SGD3583 million (USD2573 million), +3.4%;
    • Fuel: SGD925.7 million (USD665 million), +3.4%;
    • Labour: SGD650 million (USD467 million), -1.3%;
  • Operating profit: SGD280.8 million (USD202 million), +45.3%;
    • Singapore Airlines: SGD241 million (USD197 million), +22.3%;
    • SilkAir: SGD7 million (USD5.0 million), -74.1%;
    • Budget Aviation Holdings: SGD3 million (USD2.2 million), -66.7%;
    • SIA Cargo: SGD6 million (USD4.3 million), compared to a loss of SGD34 million (USD24.4 million) in p-c-p;
    • SIA Engineering: SGD18 million (USD12.9 million), compared to a loss of SGD2 million (USD1.4 million) in p-c-p;
  • Net profit: SGD243.7 million (USD175 million), -19.6%;
  • Passengers: 8.1 million, +6.6%;
  • Passenger load factor: 80.2%, +3.6ppts;
  • Passenger breakeven load factor:
  • Passenger yield:
  • Cargo yield: SGD 26.4 cents (USD 19.0 cents), +4.8%;
  • Total assets: SGD25,424 million (USD18,255 million);
  • Cash and cash equivalents: SGD2936 million (USD2108 million);
  • Total debt: SGD2260 million (USD1622 million). [more - original PR]

*Based on the average conversion rate at SGD1 = USD0.718005

Singapore Airlines Group: "The business outlook for the airline industry remains challenging, as the uncertain global economic climate and geopolitical concerns, coupled with overcapacity in our key markets, continue to dampen yield performance." Source: Company statement, 27-Jul-2017.

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