Singapore Airlines Q1 profit down 15.4pct

0 Comments | AFP, July, 2008

SINGAPORE (AFP) — Singapore Airlines said Monday its net profit in the first quarter fell 15.4 percent compared with the same period last year as higher fuel costs cut into rising revenues.

The airline reported a net profit of 359 million Singapore dollars (263 million US) for the three months ended June, a drop of 65 million from the same quarter last year.

Revenue rose 14.1 percent to 4.13 billion dollars from 3.62 billion.

But expenditures rose by a greater amount, from 3.16 billion dollars to 3.79 billion, the airline said.

© 2008 AFP