SIA S$893m profit

SIA S$893m profit

THE Singapore Airlines group has announced one of its best annual results of the past decade, revealing a full-year net profit of S$893 million (A$884 million), an increase of 148% on the previous financial year.

The increase was attributed mainly to a higher operating profit in 2017/18, which was up 69.7% from the previous year to reach S$1.05 billion.

Passenger revenue was up 3.6% and cargo revenue was up 5.3%.

Despite the strong overall performance, the operating profit of regional subsidiary SilkAir was down 57% to S$43 million.

The group last week announced plans to merge SilkAir into Singapore Airlines (TD Fri).

Low-cost offshoot Scoot lifted operating profit 15% to S$77m.

Source: traveldaily