Singapore Airlines revenue up 12.4% for three months

Singapore Airlines Group revenue up 12.4% - consolidated financial highlights for the three months ended Dec-2010:

• Total revenue*: USD2985.6 million, +12.4% year-on-year;
• Total costs: USD2589.7 million, +7.6%;
  • Labour: +16.4%;
  • Fuel: +8.1%;
• Operating profit: USD395.9 million, +57.7%;
• Net profit: USD244.1 million, -28.6%;
• Passenger numbers: 4.4 million, -0.9%;
• Passenger load factor: 79.7%, -2.7 ppts;
• Passenger breakeven load factor: 71.1%, -7.9ppts;
• Passenger yield: USD9.41 cents, +15.2%;
• Passenger cost per ASK: USD6.68 cents, +3.6%;
• Cargo volume: +1.4%;
• Cargo load factor: 65%, -0.1ppts;
• Cargo breakeven load factor: 61.2%, +0.2ppts;
• Cargo yield: USD27.67 cents, +2.0%
• Cargo cost per FTK: USD16.94 cents, +2.3%. [more]

* Based on the conversion rate USD1 = SGD1.28653

Singapore Airlines: "As airlines including SIA continue to inject capacity, advance passenger bookings for the final quarter of the 2010-11 financial year are levelling off. For air cargo, regional differences will continue to be marked in 2011 with strength in Asia Pacific and uncertainties in Europe markets. Growth for airfreight is expected to continue for the rest of the financial year, albeit at a slower rate. On the cost side, jet fuel prices are at two year highs and trending up. Fuel remains the biggest expense item for the Group," Source: Company statement, 28-Jan-2011.