SIA reports higher Q3 profit

Singapore

SINGAPORE Airlines' (SIA) third quarter profit surged ahead, bolstered by higher passenger and cargo revenues, as well as from the absence of a write-down that was made in the corresponding period last year.

Net profit jumped 61.5 per cent year-on-year to S$286.1 million, as operating profit climbed S$37 million, and as its bottom line was boosted by the absence of the S$79 million write-down of the Tigerair brand and trademark that was made last year.

Revenue increased about 6 per cent to S$4.08 billion as all of its business segments - passenger, cargo and engineering services - posted higher revenues. During the quarter under review, passenger flown revenue increased in tandem with traffic growth, offsetting a decline in yield. Meanwhile, its cargo operations posted higher revenues on both i…