SIA earn Q1 profit on higher revenue

A Monitor Report 01 Aug, 2017  |    -      +
SINGAPORE : Singapore Airlines has reported a 45.6 per cent rise in first-quarter operating profit, with revenue rising as it filled a higher proportion of seats.

The carrier, which is seen as a barometer of the Asian airline industry, made S$281 million (US$207 million) in the three months ended June 30, up S$88 million from a year ago.

After reporting a surprise fourth-quarter loss in May, Singapore Airlines announced it would undertake a strategic review to cut costs as it battles intense competition that has slashed ticket prices.

A rebound in traffic and earnings numbers augurs well for a carrier that is undertaking a review of its entire business amid intensifying competition from Middle East airlines and budget carriers.