7-Feb-2017 11:19 PM

Singapore Airlines Group operating profit up slightly in 3QFY2017, expects 'challenging' 2017

Singapore Airlines Group revenue down 3% - financial highlights for three months ended 31-Dec-2016:

  • Revenue: SGD3844 million (USD2726 million), -2.5% year-on-year;
  • Costs: SGD3551 million (USD2518 million), -2.8%;
    • Fuel: SGD938.6 million (USD665.6 million), -17.6%;
    • Labour: SGD639.6 million (USD453.6 million), +3.1%;
  • Operating profit: SGD292.9 million (USD207.7 million), +1.7%;
  • Net profit: SGD191 million (USD135.4 million), -35.7%;
  • Passengers: 8.1 million, +4.2%;
  • SIA Cargo cargo: 333,500 tonnes, +6.7%;
  • Passenger load factor: 79.0%, -1.1 ppt;
  • SIA Cargo load factor: 65.9%, +1.0 ppt;
  • Passenger yield:
    • Singapore Airlines: SGD 10.4 cents (USD 7.4 cents), -5.5%;
    • SilkAir: SGD 12.6 cents (USD 8.9 cents), -7.4%;
    • Scoot (revenue per RPK): SGD 5.2 cents (USD 3.7 cents), -7.1%;
    • Tiger Airways (revenue per RPK): SGD 6.9 cents (USD 4.9 cents), -5.5%;
  • SIA Cargo yield: SGD 27.3 cents (USD 19.4 cents), -5.2%;
  • Total assets: SGD24,619 million (USD17,457 million);
  • Cash and bank balances: SGD3107 million (USD2203 million);
  • Total debt: SGD1582 million (USD1122 million). [more - original PR]

*Based on the average conversion rate at SGD1 = USD0.709107

Singapore Airlines Group: "2017 is expected to be another challenging year amid tepid global economic conditions and geopolitical concerns, alongside other market headwinds such as overcapacity and aggressive pricing by competitors. Loads and yields for both the passenger and cargo businesses are projected to remain under pressure." Source: Company statement, 07-Feb-2017.

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