SIA's transformation programme starting to bear fruit
Its various initiatives have enabled it to target different segments in a specific manner
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Nisha Ramchandani
Singapore
WHEN Singapore Airlines (SIA) announced that it was embarking on a transformation programme in May, it had chalked up a surprise loss of S$138.3 million in Q4 FY16/17.
On Tuesday, its second-quarter report card looked very different. Net profit soared to S$189.9 million, up from S$64.9 million a year ago, while revenue rose 5.3 per cent to S$3.85 billion as both passenger and cargo traffic increased. This sent its share price leaping nearly 43 Singapore cents to close at S$10.75 on Wednesday.
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