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SIA's Q3 profit dips 27%, hurt by higher fuel bill and share of losses in JVs
Rise in revenue to S$4.34 billion over the period helps to cushion spike in fuel and non-fuel expenditure
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Published Thu, Feb 14, 2019 · 09:50 PM
Singapore
NATIONAL carrier Singapore Airlines' bottomline for the third quarter sank 27 per cent to S$284 million from a year ago's restated profit of S$389 million, hurt by a higher jet fuel bill and share of losses of its joint ventures, chiefly low-cost Thai airline NokScoot.
The share of losses of the group's joint ventures totalling S$27 million added more salt to injury to the airline, which was already hit with a 22 per cent rise in net fuel costs over the period.
