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Sovereign Wealth Funds Briefing - Categorized | Performance

Singapore Air says Q1 net profit down 82 pct y/y

Posted on 29 July 2011

Singapore Airlines (SIA), about 55 percent-owned by Singapore state investor Temasek Holdings , reported an 82 percent fall in first-quarter net profit, worse than analyst forecasts, as soaring jet fuel prices hit its margins.
The carrier, the world’s second-largest airline by market value, posted a net profit of S$44.7 million ($37 million) in the quarter ended June 30, compared to S$252.5 million a year ago. Four analysts polled by Reuters had on average forecast the figure at S$165.6 million……………………………………….Full Article: Source


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