Singapore Airlines operating profit down 64.4% in 2QFY2012

Singapore Airlines reports (03-Nov-2011) the following financial highlights for the 3 months ended Sep-2011:

• Revenue*: USD2,924.6 million, +1.9% year-on-year;
• Costs: USD2,827.5 million, +8.9%;
  • Staff: USD438 million, -1.8%;
  • Fuel: USD1,117.8 million, +29.5%;
• Operating profit: USD97.2 million, -64.4%;
• Net profit: USD153.5 million, -48.9%;
• Passenger numbers:
  • Singapore Airlines: 4.3  million, +3.5%;
  • Silkair: 720,000, +10.3%;
• Passenger load factor:
  • Singapore Airlines: 79.3%, -1.0 ppts;
  • Silkair: 72.4%, -0.1 ppt;
• Passenger yield:
  • Singapore Airlines: USD9.25 cents, -0.8%;
• Cargo volume: +3.3%;
• Cargo load factor: 63.6%, +0.3 ppt;
• Cargo yield: USD26.96 cents, -5.0%. [more – original PR]

*Based on the conversion rate at USD 1 = SGD1.26495

Singapore Airlines: “The prevailing economic uncertainty and weak consumer confidence are impacting demand for air transportation. Advance passenger bookings are showing signs of weakness, particularly in Europe and the United States. Global Purchasing Manager Indices have also fallen, pointing to weaker demand for air freight. Both passenger and cargo yields are therefore expected to remain under pressure.,” Source: Company statement, 03-Nov-2011.

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