Singapore Airlines reports highest profit in 7 years

Singapore Airlines reports highest profit in 7 years
Singapore Airlines has undertaken a three-year transformation program designed to cut costs and boost revenue. (Reuters)
Updated 17 May 2018

Singapore Airlines reports highest profit in 7 years

Singapore Airlines reports highest profit in 7 years

SINGAPORE: Singapore Airlines on Thursday topped market expectations by reporting a 148 percent rise in full-year net profit to the highest level since 2011, as passenger and cargo revenue rose and it benefited from a transformation program.
The carrier, a benchmark for Asia’s premium airlines, made S$893 million ($665.62 million) in the year ended March, up from S$360 million a year ago and 28 percent higher than the S$697 million average forecast from 14 analysts polled by Thomson Reuters.
The airline, like Hong Kong-based rival Cathay Pacific Airways Ltd, has undertaken a three-year transformation program designed to cut costs and boost revenue amid competition from Chinese and Middle Eastern rivals and low-cost carriers.