SINGAPORE – After two consecutive quarterly losses, Singapore Airlines Group returned to the black in its third fiscal quarter ended December 31, posting a S$403.7 million (US$286.1 million) profit that marked a 19.7% increase from the S$337.2 million earned in the year-ago period.
"Passenger loadings in January and bookings in hand indicate that the recovery in the third quarter is likely to continue in the final quarter," SIA said.
The airline said the improvement in yields was holding up although it warned that “uncertainties linger over the global economy”.
Third-quarter revenue plunged 17.9% year-over-year to S$3.42 billion but expenses were cut 18.7% to S$3.1 billion.
Operating profit slipped 9.5% to S$322.9 million from $356.7 million in the year-ago period.
Through the nine-month period, the group’s net loss of S$62.2 million compared to a S$1.02 billion profit the prior year
