In The Black

Singapore International Airlines (S.I.A.) Group returned to profitability in the third quarter of the financial year with a $404 million net profit attributable to equity holders.
This was a turnaround from losses of $307 million in the first quarter and $159 million in the second quarter.

Group revenue at $3,418 million was $336 million (+10.9%) higher than the second quarter.

On the cost side, Group expenditure fell $169 million (-5.2%) from the preceding quarter. The increase in jet fuel price led to a $34 million rise in fuel cost before hedging. However, hedging losses were $146 million lower. Savings in other areas, such as payroll costs contributed a further $57 million.

As a result, Group operating profit for the quarter ended December 2009 was $323 million, in contrast to the $182 million operating loss in the previous quarter.