Net profit is at S$404 million, bringing net losses for the first nine months down to S$62 million. It is still trying to avoid its first ever annual loss, which some estimates at -S$3.6 million, although the airline is more upbeat.
CHANGYOU From Singapore, joined Nov 2003, 289 posts, RR: 0
Reply 2, posted (5 years 8 months 1 week 2 days 21 hours ago) and read 2723 times:
S$62m is relatively a small amt to achieve and can be done easily base on past SQ's quarterly net earnings. And with the flights flying at 80% these days am sure another round of annual profit for SQ. Well fingers cross...
Huaiwei From Singapore, joined Oct 2008, 1122 posts, RR: 2
Reply 5, posted (5 years 8 months 1 week 2 days 10 hours ago) and read 2405 times:
Quoting Fauzi (Reply 3): A $3.6million loss is a small amount for SQ, and I am sure they can continue their annual profit streak again!
It is a small amount, but SQ is a proud and superstitious airline who would kill itself if it has to have a permanent red mark in its annual financial history books, even if it is just -S$1!
Quoting DocPepz (Reply 4): I would hardly call the quarter's performance an underperformance!
The "expert analysts" thinks so thou.
Quoting DocPepz (Reply 4): Looking at the expenses, the meal costs went up from S$60m to S$120m in the quarter, and the ground handling costs went up by about 70%. Is there any reason why this happened?
A wild guess: divestment in SATS, which means SQ was enjoying fiscal favours before?
I read elsewhere that complains against SQ's catering has been on the rise, and some wondered if it was due to the divestment of SATS too.
[Edited 2010-02-03 05:19:28 by huaiwei]
It's huaiwei...not huawei. I have nothing to do with the PRC! :)