10Nov, 24 Yield and competition pressure hits SIA Group profits in first half | News
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Singapore Airlines Group reported a significant drop in its half-year profit – from the previous year’s record high – as it flags a “moderation” in passenger yields from “strong” competition.
Passenger traffic growth at the group also fell short of the capacity added, resulting in a dip in passenger load factors.
For the six months ended 30 September, the group – comprising network carrier SIA and low-cost unit Scoot – recorded an operating profit of S$796 million ($602 million). That is down nearly 49% …