SINGAPORE, Nov 9 — Singapore Airlines yesterday flagged its earnings would stay under pressure despite robust travel demand in the second half of the year, while it reported a...
Singapore Airlines ’ posted a 48.5 per cent plunge in net profit to S$742 million for the April-September period and declared an interim dividend of 10 Singapore cents per share. The group reported net profit of S$1.44 billion a year ago.
“The Group will remain nimble and agile, adjusting its passenger network and capacity to match evolving demand patterns,” the airline said while signalling a healthy air freight demand heading into the year-end peak.Singapore’s leading airline operator posted a 48.5 per cent plunge in net profit to S$742 million for the April-September period and declared an interim dividend of 10 Singapore cents per share. The group reported net profit of S$1.44 billion a year ago.
“Increased capacity and stronger competition in key markets led to yield moderation, resulting in lower operating profit,” Singapore Airlines said. Analysts at Morningstar have flagged in a note that the rise in international capacity by global airlines had begun to be reflected in increasing competition.Singapore Airlines said it will record a non-cash accounting gain of S$1.1 billion once the Air India-Vistara merger completes, which the firm expects by November.
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