Cargo boosts Singapore Airlines group results

© Gordon Tipene

Singapore Airlines Cargo boosted the group’s overall results, with third-quarter volumes rising 6.6% to give it an operating profit of S$53m (US$37.4m), on revenue up S$8m, or 1.5%.

Yields, however, stayed under pressure, declining 5.2%. Operating profit for SIA Cargo for the nine-month period to December 2016 was S$8m, compared with a loss of S$10m the year before. Expenditure fell S$43m, mostly due to lower fuel costs. Capacity rose 5.1%.

SIA Cargo has been unprofitable for seven of the past eight years. ...