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ACW- Air Cargo Week

11/16/2011

Singapore Airlines hit by significant fall in profit, despite revenue increase

Singapore Airlines Group (SIA) reports a net profit of US$188.6 million for the first six month of its 2011-12 financial year, down by 62 percent year-on-year despite revenue rising by 3 percent year-on-year despite revenue rising by 3 percent to reach $5.7 billion.

SIA Cargo made an operating loss of $24.5 million, compared to a US$80.5 million profit in the same period a year ago.

Better news was that SIA Cargo flew 2 percent more freight tonne-km than last year, while capacity rose by 1.9 percent year-on-year. This meant that the cargo load factor improved by 0.1 percentage points to 64.2 percent. It carried 596,900 tonnes of freight and mail over the six-month.

SIA Cargo carried 99,600 tonnes of freight in September, up by 4 percent on the same month of 2010. With available capacity down by 2.6 percent year-on-year and cargo traffic down by 2.3 percent, the load factor improved by 0.2 percentage points to 63.7 percent.

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