Singapore Airlines Q2 Earnings Up Amid Higher Fuel Costs
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Singapore Airlines Ltd. (C6L.SI,SINGF) on Wednesday reported a rise in its second-quarter earnings, driven by strong passenger and cargo yields despite high fuel costs.
The company's earnings for the quarter totaled S$209.7 million, or S$0.066 per share, compared to S$52.4 million, or S$0.017 per share, last year.
Operating profit rose 16.3 percent, to S$463.7 million from S$398.4 million year ago.
EBITDA for the quarter was S$1.070 billion, higher than the year-ago figure of S$0.840 billion. EBITDA Margin for the quarter was 19.2 percent.
The company's revenue for the period rose 14.3% to S$5.583 billion from S$4.885 billion the prior year.
Passenger-flown revenue increased 15 percent, S$4.513 billion, supported by 12.2 percent yield growth and 2.3 percent higher passenger carriage.
Cargo revenue grew 26.9 percent, to S$686 million. The cargo yields were 22.3 percent higher, with loads increasing 3.9 percent.
Singapore Airlines's shares closed Wednesday on the SES at S$7.17, up 0.42 percent.
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