After an experience of major financial setbacks n the first and second quarters, Singapore Airlines made an impressive comeback in its third and fourth quarters.
According to these reports, the national carrier posted an 80% on-year decline in full-year net profit to $216 million.
Further, the airlines had chalked up nearly half-a-billion dollars in losses in its first two quarters that totaled to $466 million.
The most primary reasons for the losses were the high fuel prices and the economic slowdown.
However, the airlines recovered from losses and witnessed a turnaround from the third quarter. The national carrier recorded a profit of $682 million.
According to the officials the turnaround was due to the global economic recovery, the rise in the passenger numbers and of cargo carriage.
Commenting on this results, Stephenson Harwood's Global Head of Aviation, Paul Ng said, "The fourth quarter was a period of holiday, so passenger traffic and cargo traffic would have seen higher numbers. In particular, the Q4 results were good partly because the fuel hedges that were crushing the profits of the airline had run out".
SIA officials reports that the fourth-quarter net profit of SIA stood at $278 million that was more than six times of the net profit which was recorded last year.
Report suggests that the figure disobeyed the market expectations that were estimated at about $240 million.
Analysts speculate that SIA would maintain a trend of profitability in the first quarter next year as well.
According to these reports, the national carrier posted an 80% on-year decline in full-year net profit to $216 million.
Further, the airlines had chalked up nearly half-a-billion dollars in losses in its first two quarters that totaled to $466 million.
The most primary reasons for the losses were the high fuel prices and the economic slowdown.
However, the airlines recovered from losses and witnessed a turnaround from the third quarter. The national carrier recorded a profit of $682 million.
According to the officials the turnaround was due to the global economic recovery, the rise in the passenger numbers and of cargo carriage.
Commenting on this results, Stephenson Harwood's Global Head of Aviation, Paul Ng said, "The fourth quarter was a period of holiday, so passenger traffic and cargo traffic would have seen higher numbers. In particular, the Q4 results were good partly because the fuel hedges that were crushing the profits of the airline had run out".
SIA officials reports that the fourth-quarter net profit of SIA stood at $278 million that was more than six times of the net profit which was recorded last year.
Report suggests that the figure disobeyed the market expectations that were estimated at about $240 million.
Analysts speculate that SIA would maintain a trend of profitability in the first quarter next year as well.
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