Massive fuel hedging losses and falling revenue resulted in a 43% drop in fiscal third-quarter profit at Singapore Airlines Group, to S$337.2 million ($225.5 million) from the S$590 million earned in the three months ended Dec. 31, 2007. Revenue fell 2.6% year-over-year to $4.16 billion while a S$125 million drop in fuel costs was offset by a S$341 million hedging loss. "Other cost items were well contained," the company said, as total expenditure climbed 5.7% to S$3.81 billion. Costs were ...

Subscribe to Access this Entire Article

"SIA's third-quarter profit falls 43% on hedges, declining demand" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.