Transport Airlines

Singapore Airlines reports drop in profit with pessimistic outlook for second half earnings

Excerpt from Channel News Asia

Nov 03, 2012 1:20 pm

Skift Take

Higher fuel costs and fewer passengers outweighed Singapore Airlines’ jump in revenue. Current market pressures suggest that the legacy carrier would do better by shifting focus to its budget airline Scoot.

— Samantha Shankman

Free Report: The Changing Business of Extended-Stay Hotels

William Hook  / Flickr.com

A model of a Singapore Airlines’ Boeing 747 plane. William Hook / Flickr.com


 Singapore Airlines (SIA) said Friday its first-half net profit fell 30 percent from last year, and warned the outlook was bleak as the eurozone debt crisis dents global business confidence.

“The continuing European economic crisis is dampening global business confidence, exerting downward pressure on loads and yields of both passenger and cargo businesses,” the leading Asian carrier said in a statement. “These challenging market conditions are exacerbated by high and volatile jet fuel prices.”

Read the Complete Story →

Tags: ,

Next Up

More on Skift

National Parks’ Centennial Campaign Expected to Boost Outdoor Recreation
5 Digital Trends We’re Tracking at Skift This Week
Courtyard by Marriott Lures Millennials with Wine, Dance and … Dogsleds?
4 Strategies to Better Engage the Millennial Traveler