Revenue increased 12.4% to a Group record of S$3.421B / US$2.168B
Expenditure increased 12.8% to S$3.147B / US$1.994B
Fuel accounted for 38.9% of expenditure, rising 37.1% to S$1.233B / US$781M. The price of jet fuel for SIA rose to an average of US$87/bbl.
Non-fuel items increased 1.3%, slower than capacity growth, reflecting "the ongoing efforts toward improved cost management, efficiency and productivity."
Group Net Profit increased 145.1% to S$575M / US$364M
The Airline carried 4.4 million passengers, up 9.4%
RPKs grew 9.4% while ASKs rose 3.3% leading to a 4.3% increase in passenger load factor to 75.6%
The theoretical breakeven load factor rose 2.8% to 70.8% due to unit costs growing at a higher rate than yield. Excluding fuel, passenger unit costs actually fell 7.0%
SIA Cargo's RTKs grew 5.7% while CTKs rose 4.6% leading to a 0.6% increase in cargo load factor to 61.9%
The theoretical breakeven cargo load factor rose 4.7% to 64.2% as unit costs grew 12.3% compared to a 4.1% improvement in yield
SIA operates a Passenger Airline fleet of 27 B744s, 58 B777s and 5 A345s. (One assumes "operating fleet" means they are flying)
"The outlook for air travel remains broadly positive for the rest of the
financial year, supported by favourable economic conditions, particularly in the Asia Pacific region and Europe."
"Fuel costs, however, continue to weigh on the Group’s financial performance, with the price of jet fuel expected to remain high and volatile in the near term amidst geopolitical concerns and strong demand for oil worldwide."
"The Group will work at maintaining its profitability despite the
challenges faced by the industry."
Perhaps a more meaningful and accurate representation of 1st qtr profit would be to disclose the operating profit at S$274M (up 8.2%). The S$575M you detail above includes a one off gain of S$223M from the sale of a building.
But then this may not have sounded as good I guess.