SIA Group Posts Loss In Q1

(RTTNews) - Singapore Airlines Group (C6L.SI) reported a first quarter net loss of S$76 million compared to profit of S$186.1 million, a year ago. The company posted a loss per share, in cents, of 2.4 compared to profit of 6.1, prior year. Operating profit declined to S$105.5 million from S$404.5 million. The company said decline in operating profit was driven by the sharp jump of S$991 million in net fuel costs due to the Middle East conflict.

The SIA Group achieved revenue of S$5.71 billion during the first quarter, an increase of 19.3% year-on-year, on strong demand and a 12% increase in passenger yields. Passenger revenue was up 18.6% to S$4.58 billion.

Shares of Singapore Airlines are trading at S$7.77 on the Singapore Exchange, up 0.78%.

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