SIA reports lower quarterly profit as yields fall and fuel costs rise

Quick Summary:

Net profit for the three months to June 30 dived 38.4% to $452m, from $734m a year earlier.

In November 2023, SIA and Scoot announced a target of replacing 5 per cent of their total fuel requirements with sustainable fuels by 2030.

Nevertheless, travel demand is expected to stay healthy in the coming months, though passenger yields are forecast to stay below the previous year’s levels as more capacity enters the market, particularly in the Asia-Pacific region.

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Article Details

Category: EconomyBusiness

Markets: SingaporeIndia

Topics: Cent Year Months Lower Million Passenger Cargo Singapore Fuel Billion Yields

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 19:50:05 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 866 words

Reading Time: 5 minutes read

Sentences: 39 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 21874260

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