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SINGAPORE, July 28 (Xinhua) -- The net profit of Singapore Airlines (SIA) has almost tripled in its fiscal first quarter, compared with the same period last year, SIA said in a statement on Thursday.
SIA earned 257 million Singapore dollars (190 million U.S. dollars) in the three months to June, up 182 percent from 91.2 million Singapore dollars (67.6 million U.S. dollars) in the same period last year, while its group revenue fell 2.1 percent to 3.65 billion Singapore dollars (2.7 billion U.S. dollars).
The jump in net profit is mainly due to lower fuel prices, better operational performance and one-time gains, the company said.
SIA said that it expects the business outlook to remain challenging amid economic weakness and geopolitical concerns in some markets.
"Competition remains intense with aggressive capacity injection, and yields will continue to remain under pressure. Yields will be further diluted if key revenue-generating currencies depreciate against the Singapore dollar," it said. Enditem
