SIA Q1 profits plummeted by 58.67% to $ 139.6m

It was blamed on the price of oil prices.

Singapore Airlines (SIA) dropped $ 58.65 from $ 337.9m last year. Revenue increased by 0.5% to $ 3.84b.

Passenger flown revenue grew 5.1% and outpaced the decline in passenger yield (-3.2%) thanks to an 8.3% increase in traffic. Cargo flown revenue was up 6%, as cargo yield rose 9.9%, albeit on lower costs carried (-3.5%). (19659002) Group expenditure jumped 5.6% $ 3.65b, predominantly led by $ 154m increase in net fuel cost. Fuel cost before hedging rose by $ 312m, mainly due to a US $ 26 per barrel (+ 39.3%) increase in average jet fuel price. Ex-fuel costs were slightly higher than the growth rate of the SIA (1965.9002) for SIA (21.8%) and Brent (2000). For the US $ 65 and US $ 54 per barrel respectively.

Also read: SIA's Q1 profit outlook clouded by rising prices

SilkAir's profits plummeted by 97.5% to $ 200,000, 10.3% contraction in yield. 10.3% contraction in yield. Expenditure rose $ 20m, contributed by higher net fuel cost (+ $ 10m) and ex-fuel costs, partly attributable to 10.0% growth in capacity. Passenger load factor rose 3.4 percentage points to 75.0%.

Scoot's operating profit was 100% down to $ 1m. Passenger traffic growth of 17.1%, partially offset by a 1.8% reduction in yield. Expenditure increased by 16.7% Passenger load factor was 2.1 percentage points higher at 86.1%.

Meanwhile, operating profit for SIA Engineering fell by 47.37% to $ 10m, mainly due to a reduction in revenue on lower airframe and fleet management activities. SIA added.

"Passenger traffic is expected to grow in the coming months," said the company said. . "Costs remain under pressure, especially from higher fuel prices. Cargo demand in the global market, the escalation of the pressure of air cargo demand. "