- Mar 22, 2005
SQ are proposing an increase to fuel surcharges by upto US$10 from May 15th. I wish airlines would just accept that higher fuel costs are here to stay and absorb them into the price of airfares.
AFP said:Singapore Airlines net profits hit by higher fuel expenses
SINGAPORE (AFP) - Singapore Airlines (SIA) said net profit in the year to March fell 8.3 percent annually to 1.24 billion Singapore dollars (789 million US) as fuel costs took their toll despite record revenues of 13.34 billion dollars.
SIA revised its profits for the year to March 2005 to 1.35 billion dollars from 1.39 billion dollars stated previously.
For the fourth quarter to March, the carrier's net profit totalled 266 million dollars on revenues of 3.39 billion dollars.
The full-year earnings were below analysts' average forecast of 1.26-1.35 billion dollars.
A hike in fuel surcharge on tickets by up to 10 US dollars since May 15 is only expected to help the airline absorb part of the cost from higher oil prices, SIA said.