SIA profit slumps
SINGAORE – Singapore Airlines’ (SIA) net profit fell an annual 42.8 percent in the third quarter to December as it carried fewer passengers and cargo due to the global economic downturn.
SIA has forecast a bleak outlook for this year.
SIA said it carried 4.8 million passengers in the October to December period, down 4.2 percent from the same quarter the year before.
“Demand for air transportation is expected to remain weak for much of 2009,” SIA warned. “The company will continue to monitor the patterns of demand and make appropriate adjustments to flight schedules and capacity while managing costs tightly.”
SIA announced late last month the suspension of some international flights, saying it did not want to fly half-empty planes around the world.
Flights to India, Southeast Asia, the United States and Europe were among those affected. The airline said it was also reducing its all-business-class service to New York and Los Angeles.
In its statement, SIA said group expenditure rose 5.7 percent, as gains from declining jet fuel prices were eroded by hedging losses totaling S$341 million.
Ian Jarrett
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025