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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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.
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