SIA’s operating profit up for third quarter in tough market

February 7, 2014

SINGAPORE - The Singapore Airlines Group has reported an operating profit of $151 million in the third quarter of its 2013-14 financial year, $20 million higher (+15.3%) than a year ago. SIA said higher passenger numbers were offset by weaker yields (down 2.7%) in a competitive environment which included unfavourable exchange rate movements. Average jet fuel prices decreased 5.6% on-year. This was partially offset by higher staff and non-fuel variable costs which rose in line with the increase in capacity. www.singaporeair.com (ATI).