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Profit turnaround for SIA Cargo as earnings and revenues soar
来源： 编辑：编辑部 发布：2018/05/21 10:23:05
| SINGAPORE Airlines (SIA) cargo division reported a 4,833 per cent increase of operating profit to S$148.1 million (US$110 million) in the 2017/18 financial year, drawn on revenues of S$2.2 billion, up 111.5 per cent. Cargo yield was up 8.9 per cent and freight carriage improved 5.3 per cent "on the back of strong air cargo demand," reported the carrier in its annual results statement. "Expenditure was up S$119 million, partly due to higher handling costs on increased freight carriage, staff costs, and aircraft maintenance and overhaul costs. Cargo load factor rose by 2.1 percentage points to 65.3 per cent." The fourth quarter of the 2017/18 financial year saw SIA Cargo report an operating profit of S$28 million, a S$33 million year-on-year improvement from a S$5 million loss. The fourth quarter, said the carrier, saw revenues rise S$55 million as freight carriage grew 4.6 per cent and cargo yield improved 8.5 per cent, while "expenditure increased by S$22 million, which was blamed on higher depreciation. SIA Cargo, which was re-integrated into the parent company from April this year, will "continue to pursue charter opportunities and deploy capacity to match demand". Currently, SIA Cargo's freighter network covers 19 cities in 13 countries and territories, including Singapore. Said SIA: "The overall demand outlook for cargo remains moderately positive, but is subject to geopolitical uncertainties which may have implications on global trade." |