Singapore Airlines Third-Quarter Net Profit Rose 11%
14 Febbraio 2020 - 12:04PM
Dow Jones News
By Yifan Wang
Singapore Airlines Ltd. said its net profit for the fiscal third
quarter rose 11% from a year earlier, supported by higher revenue
and lower expenditure.
Net profit for the three months ended December period was 314.8
million Singapore dollars (US$226.6 million), compared with S$284.1
million in the year-ago period, the company said Friday.
Revenue increased 3.0% from a year earlier to S$4.47 billion on
strong passenger-traffic growth and record-high load factor for the
season, the airline operator said.
The growing scale of the coronavirus outbreak poses "significant
challenges" to the company, as demand for China-bound services
takes a hit, Singapore Airlines said. The company said it expects
to continue to make appropriate network adjustments and tighten
cost management as the epidemic develops.
Since January, Singapore's flag carrier has slashed flight
frequencies on dozens of routes it operates between Singapore and
China, while its budget unit Scoot has suspended all services to
mainland China through late March.
Globally, the epidemic has led major airlines including Delta
Air Lines Inc. and American Airlines Group Inc. to reduce flights,
while dealing a blow to industries from tourism and travel to
logistics and trade across Asia.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
February 14, 2020 05:49 ET (10:49 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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