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Singapore Airlines third-quarter net profit down 65 percent

Singapore Airlines (SIA) said Thursday its third-quarter net profit fell 65 percent from the previous year, weighed down by a huge legal settlement bill in the US and losses from associated companies. The flag carrier said in a statement that net profit in the three months ended December was Sg$50.1 million ($39.41 million), down from Sg$142.5 million in the same quarter the year before. It said the figure was dragged down by a Sg$78 million dollar settlement in a class action suit filed in the US against its freight arm SIA Cargo.

SIA, Air New Zealand form alliance

Singapore Airlines (SIA) and Air New Zealand on Thursday announced an alliance to expand services to both countries and boost their global reach as they look to capitalise on growing tourism traffic. The alliance will enable SIA to operate its Airbus A380 superjumbos to New Zealand for the first time, progressively replacing daily services using the smaller Boeing 777-300ER, the firms said in a joint statement.

SIA, Air New Zealand form alliance

Singapore Airlines (SIA) and Air New Zealand on Thursday announced an alliance to expand services to both countries and boost their global reach as they look to capitalise on growing tourism traffic. The alliance will enable SIA to operate its Airbus A380 superjumbos to New Zealand for the first time, progressively replacing daily services using the smaller Boeing 777-300ER, the firms said in a joint statement.

SIA, Air New Zealand form alliance

Singapore Airlines (SIA) and Air New Zealand on Thursday announced an alliance to expand services to both countries as they look to capitalise on growing tourism traffic in Asia-Pacific. The alliance will enable SIA to operate its Airbus A380 superjumbos to New Zealand for the first time, progressively replacing daily services using the smaller Boeing 777-300ER, the firms said in a joint statement.

Singapore Airlines Q2 net profit up 78 percent

Singapore Airlines (SIA) said Tuesday its net profit in the second quarter rose 78 percent year-on-year but warned that intense competition and a strong local dollar will put pressure on yields. Net profit for the three months ended September was Sg$160 million ($128 million) on revenue of Sg$3.90 billion, the airline said in a statement. It said the rise was "mainly attributable to the higher operating profit, share of profits from associated companies and gains from the sale of aircraft".

Singapore Airlines Q1 net profit up 56 percent

Singapore Airlines (SIA) said Thursday its net profit in the first financial quarter rose 56 percent from the year before, mainly due to one time gains. Net profit of Sg$122 million ($96 million) in the April-June period was driven largely by proceeds from the sale of surplus aircraft and gains after it sold its stake in Virgin Atlantic to Delta Air Lines, SIA said in a statement. Revenue climbed 1.7 percent to Sg$3.84 billion. The Asian carrier received a net gain of Sg$336 million from the sale of its stake in Virgin Atlantic to the US carrier.

Singapore Airlines places $17 bn order

Singapore Airlines (SIA) announced Thursday it will buy 30 Airbus and 30 Boeing aircraft in an order worth more than $17 billion as it seeks to maintain market leadership using the next-generation fuel-efficient planes. "Singapore Airlines has agreed to order 30 more Airbus A350-900s and 30 Boeing 787-10Xs in deals valued at more than US$17 billion," the airline said in a statement. For Airbus, the deal includes an option to purchase 20 more planes in addition to the 30 firm orders. The options can be converted to firm orders for bigger A350-1000s, it said.

Singapore Airlines places $17 bn order

Singapore Airlines (SIA) announced Thursday it will buy 30 Airbus and 30 Boeing aircraft in an order worth more than $17 billion as it seeks to maintain market leadership using the next-generation fuel-efficient planes. "Singapore Airlines has agreed to order 30 more Airbus A350-900s and 30 Boeing 787-10Xs in deals valued at more than US$17 billion," the airline said in a statement. For Airbus, the deal includes an option to purchase 20 more planes in addition to the 30 firm orders. The options can be converted to firm orders for bigger A350-1000s, it said.

Singapore Airlines places $17 bn order

Singapore Airlines (SIA) announced Thursday it will buy 30 Airbus and 30 Boeing aircraft in an order worth more than $17 billion as it seeks to maintain market leadership using the next-generation fuel-efficient planes. "Singapore Airlines has agreed to order 30 more Airbus A350-900s and 30 Boeing 787-10Xs in deals valued at more than US$17 billion," the airline said in a statement. For Airbus, the deal includes an option to purchase 20 more planes in addition to the 30 firm orders. The options can be converted to firm orders for bigger A350-1000s, it said.

SIA says third-quarter net profit up 6.0 percent

Singapore Airlines (SIA) said Thursday its third-quarter net profit rose six percent year-on-year as the sale of aircraft and spare engines as well as interest income offset the impact of a business slowdown. Net profit for the last three months of 2012 totalled Sg$143 million ($115.6 million), SIA said, attributing the rise to gains from the "sale of aircraft, spares and spare engines, and higher net interest income". Revenue however eased 0.40 percent to Sg$3.86 billion, and the carrier warned of tough times ahead for the passenger and cargo markets.
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