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17-May-2019 10:40 AM

Singapore Airlines Group reports sharp profit declines in Q4 and FY2019, Scoot in the red

Singapore Airlines Group reported (16-May-2019) the following financial highlights:

  • Three months ended 31-Mar-2019:
    • Revenue: SGD4075 million (USD3007 million), +1.4% year-on-year;
    • Costs: SGD3822 million (USD2820 million), +3.7%;
      • Fuel: SGD1100 million (USD811.4 million), +8.0%;
      • Labour: SGD715.8 million (USD528.2 million), +0.8%;
    • Operating profit (loss): SGD253.5 million (USD187.1 million), -24.0%;
      • Singapore Airlines: SGD204 million (USD150 million), -27.9%;
      • SilkAir: SGD11 million (USD8 million), +267%;
      • Scoot: (SGD6 million) (USD4.4 million), compared to a profit of SGD30 million in p-c-p;
      • SIA Engineering: SGD19 million (USD14 million), -9.5%;
    • Net profit: SGD214.1 million (USD158 million), -26.9%;
    • Passenger yield: SGD 9.4 cents (USD 6.9 cents), -1.1%;
      • Singapore Airlines: SGD 10.2 cents (USD 7.5 cents), -1.0%;
      • SilkAir: SGD 11.3 cents (USD 8.3 cents), -3.4%;
      • Scoot: SGD 5.8 cents (USD 4.3 cents), -3.3%;
    • Cargo yield: SGD 30.0 cents (USD 22.1 cents), +0.3%;
  • 12 months ended 31-Mar-2019:
    • Revenue: SGD16,323 million (USD12,018 million), +3.3%;
    • Costs: SGD15,256 million (USD11,233 million), +7.0%;
      • Fuel: SGD4587 million (USD3377 million), +17.6%;
      • Labour: SGD2817 million (USD2074 million), +4.0%;
    • Operating profit (loss): SGD1067 million (USD785.7 million), -31.1%;
      • Singapore Airlines: SGD991 million (USD729.6 million), -25.9%;
      • SilkAir: SGD15 million (USD11 million), -65.9%;
      • Scoot: (SGD15 million) (USD11 million), compared to a profit of SGD78 million in p-c-p;
      • SIA Engineering: SGD57 million (USD42 million), -27.8%;
    • Net profit: SGD721.6 million (USD531.3 million), -46.4%;
    • Passenger yield: SGD 9.2 cents (USD 6.8 cents), -2.1%;
      • Singapore Airlines: SGD 10.1 cents (USD 7.4 cents), -1.0%;
      • SilkAir: SGD 10.9 cents (USD 8.0 cents), -5.2%;
      • Scoot: SGD 5.7 cents (USD 4.2 cents), -1.7%;
    • Total assets: SGD30,505 million (USD22,460 million);
    • Cash and bank balances: SGD2944 million (USD2168 million);
    • Total liabilities: SGD16,822 million (USD12,386 million). [more - original PR]

*Based on the average conversion rate at SGD1 = USD0.736271 for FY2019
*Based on the average conversion rate at SGD1 = USD0.737919 for Q4FY2019

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