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Singapore Airlines Posts H1 Profit Of S$773 Mln  
User currently offlineSingapore_Air From United Kingdom, joined Nov 2000, 13735 posts, RR: 19
Posted (11 years 5 months 3 weeks 4 days 9 hours ago) and read 2517 times:

Singapore Airlines has posted a H1 profit of S$773Mln.

Concerns over global peace and the Bali terror bomb will shadow FY0203 H2.

Analysts say that a reboundin passenger traffic since January (April for the relevant Financial Year), and a tax rebate, and an abscence of an Air New Zealand investment write off, will help the H1 profits.

A graph below shows graphically estimated profits after EBITDAR (in other words, before the tax rebate).



The financial results are being webcast now at http://www.alternateTV.com/sia/1hfy2002


Anyone can fly, only the best Soar.
7 replies: All unread, jump to last
 
User currently offlineSingapore_Air From United Kingdom, joined Nov 2000, 13735 posts, RR: 19
Reply 1, posted (11 years 5 months 3 weeks 4 days 9 hours ago) and read 2511 times:

The above graph is shown below:




Anyone can fly, only the best Soar.
User currently offlineSingapore_Air From United Kingdom, joined Nov 2000, 13735 posts, RR: 19
Reply 2, posted (11 years 5 months 3 weeks 4 days 8 hours ago) and read 2490 times:

Key Points:

Net Profit is S$773.8 Million / US$434.4 Million
Profit includes S$278 Million / US$156 Million tax rebate (Singapore reduced it's corporation tax)

Singapore Airlines Engineering Company's profit rose to S$101.3 million / US$57.23 Million (up 3.9%). There was less work on SIA planes, but SIAEC compensated by gaining work from non-SIA companies.

Virgin Atlantic posted a profit and the first half is stronger for them. They are recovering but the profit figure for VS is unclear so far.

Singapore Airport Terminal Services posted a 4.8% rise in profit to S$118.2 Million / US$67 Million.




Anyone can fly, only the best Soar.
User currently offlineQANTASpower From Australia, joined Aug 2002, 516 posts, RR: 7
Reply 3, posted (11 years 5 months 3 weeks 4 days 8 hours ago) and read 2483 times:

Will have to look into it further but taking out the abnormals does not seem like such a good result.

Qantas will overtake them very soon in terms of profits made.


User currently offlineSingapore_Air From United Kingdom, joined Nov 2000, 13735 posts, RR: 19
Reply 4, posted (11 years 5 months 3 weeks 4 days 8 hours ago) and read 2469 times:

Long live Anzett.

Revenue was S$5228.9 Million / US$2935.11 Million (Up 10.5%)
Expenditure was S$4719.1 Million / US$2648.95 Million (Up 10.3%)

Operating profit for The Group is S$509.8 Million / US$286.163 Million (+12.8%)
Virgin Atlantic Airways and Eagle Air Services Asia made a profit of S$86.1 Million / US$48.33006 Million.

Profit before taxation is S$656.4 Million / US$368.454 Million. (Up 127.9%)
Profit after taxation (including rebate) is S$803.9 Million / US$451.249 Million (Up 384.6%)
Profit attributable to shareholders is S$773.5 Million / US$434.185 Million (Up 473.8%)

Unfortunately, SIA are not at liberty to say what profit Virgin Atlantic has made so far. However, the number so far is that Virgin made a profit of about S$34 Million / US$19.1 Million.

"Unfortunately, in an environment teeming with threats of war, whether we can continue to perform at the same level for the rest of the financial year rests largely on developments beyond our control," SIA said in a statement.

"The outlook beyond Christmas is less positive as the economic prospects for major markets appear weak and a number of carriers have added considerable freighter capacity."

Dr. Cheong is still retiring in 2003 "at some time".



Anyone can fly, only the best Soar.
User currently offlineQANTASpower From Australia, joined Aug 2002, 516 posts, RR: 7
Reply 5, posted (11 years 5 months 3 weeks 4 days 7 hours ago) and read 2443 times:

Yes they said the profit for Virgin was a paltry $34M with the 6 month period coming usually a lot weaker. Hence maybe we can expect breakeven for Virgin at best. Not good for a $1.2Billion dollar investment. It is about time Dr Cheong and the board were brought to account for this disastrous investment.

User currently offlineEx_SQer From United States of America, joined Apr 2002, 1435 posts, RR: 5
Reply 6, posted (11 years 5 months 3 weeks 4 days ago) and read 2377 times:

Not too shabby overall, even with the extraordinary items. At least this time round there are no sudden writedowns, changes in depreciation, gains from long-disposed of assets, etc....

Qantaspower:
While SQ and QF have traditionally had strong profit margins, I hardly think they're engaged in a p***ing contest to show who has the higher/highest profits. As for the VS stake, it may not have turned out as planned for now, but it is still a long term play. It would be premature to nail Baldy (whoops.. Dr Cheong) for that investment at this point in time.


User currently offlineSingapore_Air From United Kingdom, joined Nov 2000, 13735 posts, RR: 19
Reply 7, posted (11 years 5 months 3 weeks 3 days 13 hours ago) and read 2319 times:

Long live Anzett x 2

Some key operating figures:

SIA Passenger:

7.775 Million passengers were carried, a 1.8% rise
Revenue Passenger Kilometre stood at 37 798.7 million - an increase of 4.8%
Capacity was 49 196 million - a 2.4% increase
Passenger load factor was 76.8% - 1.7% more than the H1 before
Breakeven load factor was 73.3% - 3.7% more than the H1 before
Unit cost (cents per available seat kilometre (Capacity)) - 6.6 cents - 3.1% higher than the H1 before (6.4 cents)
Yield (cents per passenger kilometre) was 9 cents - 1.1% lower (9.1 cents) because of more Economy passengers.

SIA Cargo:

518.4 Million kilograms of cargo was carried, a 14.4% rise
Revenue Tonne Kilometre stood at 3 439.5 million - an increase of 22.6%
Capacity was 4 950.5 million - a 12.9% increase
Cargo load factor was 69.5% - 5.5% more than the H1 before.

Overall load factor was 72.5% - up 3.6%
Breakeven load factor was 69.6% - up 2.3%




Anyone can fly, only the best Soar.
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