AVIATION
SIA half year profit tops S $ 633 million
The SIA Group earned a net profit of S $ 633 million for the first
half of the 2010-11 financial year, a turnaround from the $ 466 million
loss in the same period a year ago.
Group revenue improved 19 percent (+ S $ 1,143 million) to S $ 7,097
million, on the continued recovery in load factors and yields.
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A SIA
aircraft |
Group expenditure at S $ 6,501 million rose by less than 1 percent (+
S $46 million) year-on-year. Expenditure on fuel was higher by S $ 423
million as jet fuel prices increased 27 percent over the same period
last year.
This was partially offset by a reduction of S $ 368 million in fuel
hedging losses ($118 million this year versus S $ 486 million last
year).
Consequently, Group operating profit for the April-September period
was S $ 596 million, a turnaround from the S $ 501 million operating
loss last year.
The Parent Airline Company earned an operating profit of S $ 380
million in the first six months of the financial year, against an
operating loss of S $ 428 million last year.
All the main companies in the Group were profitable, with improved
operating performances.
The Group net profit for the July to September quarter was $380
million, in contrast to the S $ 159 million loss in the same period the
previous year.
Group revenue at S $ 3,631 million was up 18 percent (+ S $ 549
million) as load factors and yields continued to improve.
Group expenditure was almost unchanged (+ S $ 22 million) as smaller
losses on fuel hedging (S $ 40 million this year versus $200 million
last year) offset increase in expenditure in other areas.
As a result, Group operating profit for the second quarter was S $
345 million, against an operating loss of S $ 182 million in the same
three months of last year.
Cathay launches special packages for CXHKIR
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Cathay
Pacific Hong Kong International Races |
Cathay Pacific Airways introduces special packages to revel in the
energy and excitement of the Cathay Pacific Hong Kong International
Races (CXHKIR) to be held in December 2010.
The Cathay Pacific Hong Kong International Races, which will take
place at the Sha Tin Racecourse on December 12, is a landmark event in
the world's racing calendar.
Cathay Pacific Airways has designed special packages for visitors to
make the most of their trip to Hong Kong.
Packages range from Bronze to Platinum while the basic package
includes return air ticket and the admission ticket to Cathay Pacific
Hong Kong International races on the 12th. Visitors can book their
tickets before November 26 and must complete travel on or before
December 20.
Cathay Pacific Airways is represented in Sri Lanka by Finlays Colombo
PLC as general sales agent. |