SIA reports higher operating profits but full-year net earnings down 5.3% to $359m
Published on May 8, 2014 7:17 PM
Singapore Airlines (SIA) has reported profits of $359 million for the year to March 31, a 5.3 per cent dip from the 12 months before that.
The fall was due in part to losses from associated companies including budget carrier Tigerair, SIA said on Thursday.
The poorer performance came even as group operating profits increased by 13.1 per cent year-on-year to $259 million.
This was despite a challenging January-March fourth quarter which recorded a group operating loss of $60.3 million, higher than the $44.2 million that was reported a year ago. Both the parent airline and SIA Cargo reported operating losses for the quarter.
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