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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

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SIA booked a one-off share of losses of S$116 million over the quarter for its 20 per cent-owned Virgin Australia, whose results were impacted by major, albeit non-cash, accounting adjustments.

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...

sentifi.com

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