Amazing SIA

my sanctuary

The headline in BT today said "SIA posts $590m Q3 net profit". Well this is about the same as corresponding quarterly profit last year. So no big deal right?

It is BIG deal as I read further down the report.

Striping out the one-time gains from disposals of SIA Building and its stake in Singapore Aircraft Leasing Enterprise in its last year's reported profit of $1.46 billion for the corresponding 3 quarters, net profit attributable to shareholders is 46.8% or $485 million HIGHER for the 3 quarters to date!!!!

The fantastic results have been achieved against the background of high fuel prices and the continued strengthening of SGD.

Aggresive management of its fuels costs through hedging and fuel surchages applied on its 4.96 million passengers, has kept its escalation to only 8% in the 3rd quarter.

Passenger yield grew by 12.7% vs a 7.7% rise in unit cost. I wonder whether the higher yield is due to efficiency improvement or ticket price increase.

Passenger load factor is now at 81.3% vs a breakeven level of 67.7%.

My sincere appreciation of your effort and the brain work involved in achieving the results.

P/S - Dear SIA, can you waive the fuel surcharge please? :)