Singapore Airlines parent SIA Group reported a net profit of S$2.05 billion ($1.5 billion) for its fiscal year ended March 31, down 3.8% from S$2.13 billion earned in the prior year, but said the income falloff was attributable to one-time gains in FY07 and boasted that it was able to grow full-year revenue at twice the rate of costs despite high fuel prices. SIA said it "benefited from a strong business environment" during the fiscal year but warned that "current turmoil in global financial ...

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