Revenue of Singapore Airlines Group increased by 6.5% in the third quarter

Singapore Airlines GroupThe revenue of the Singapore Airlines Group increased by 265 million SGD (196.3 million USD), or 6.5% YoY, in the third quarter of the 2018-2019 fiscal year to 4.342 billion SGD (3.216 billion USD). The strong finance results growth was achieved primarily due to an increase in traffic revenue and an increase in passenger demand.

The passenger traffic of the Singapore Airlines Group grew by 8%, which exceeded the growth rates of the carrying capacity and contributed to an improvement in the load indicator by 0.9% to 83%. The revenue per seat-kilometer increased by 1.3% as a result of the transformation program of the group.

“Revenue from freight traffic remained at the same level as last year. The result of the third quarter was affected by the growth of the income rate by 3.4% on the one hand and a decrease in the volume of transported goods on the other. The engineering division of the Group showed an increase in revenue of 16 million SGD (+14.2%), primarily due to an increase in the volume of routine maintenance of aircraft”, says the statement of Singapore Airlines Group.

The expenses of the airline group increased by 331 million SGD, or by 9.1%, to 3.954 billion SGD mainly due to an increase in net fuel costs. The group’s expenses for fuel excluding hedging increased by 285 million SGD, mainly due to the increase in the average cost of fuel by 16 USD per barrel. At the same time, the Group received a higher income from hedging as compared to the previous year.