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SIA Charman: "A Lot Of Ground To Be Made Up"

Fri Jun 28, 2002 9:27 pm

Yields are still lower than last year says Singapore Airlines Chairman Koh Boon Hwee.

"On the surface things appear to be back on track but the truth is there is a lot of ground to be made up," Koh told a gathering of the Asia Pacific Media Association. "While passenger and cargo load levels have improved since the start of this year, the industry is still in a fairly fragile state."

This is despite revenue per passenger kilometres rising 8% in May compared to May 2001.

"While our S$632 million profit after tax was a very good result considering the prevailing conditions, we must naturally aim for a stronger performance in this financial year, even though yields seem to be very slow to recover," Koh said.

Koh Boon Hwee also followed SIA's CEO Dr. Cheong Choong Kong's words in 2001, by saying that state ownership of airlines is "an anachronism".

More information at the Reuters / Yahoo website
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