SIA sees 9% profit fall as yields tighten

SINGAPORE – Singapore Airlines has reported a 9% fall to S$623 million in full-year operating profit for its 2016-17 financial year, Intense competition, it says, continues to put pressure on yields.

SIA said Group revenue fell S$370 million year-on-year to S$14,869 million (-2.4%). Passenger flown revenue declined S382 million (-3.2%) despite traffic growth (+2.6%), and Cargo revenue was also down S$87 million on the back of cargo yield erosion, notwithstanding higher freight carriage. www.singaporeair.com (ATI).