High fuel prices send SIA's Q2 profits tumbling 81%
A 40% jump in fuel price drove up fuel cost by 24%, overshadowing improvements in revenue and cost efficiency
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
NATIONAL carrier Singapore Airlines' bottom line headed south for the second quarter, with net profit tumbling to S$56 million from a restated profit of S$293 million a year ago, due to a combination of well-flagged, adverse factors by the analyst fraternity.
The group was hit by higher jet fuel prices and recognition of share of losses in an associated company.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
