SINGAPORE (Yosefardi) – In June 2015, Singapore Airlines’s revenue declined 3.2% to $3,565 million in the first quarter of 2015, ended June 2015.
Lower passenger flown revenue (-$126 million or -4.4%) was recorded, as passenger yields were eroded by significant capacity injection and aggressive fares from competitors, particularly on Americas and Europe routes.
Cargo revenue also declined over last year (-$37 million or -7.2%), notwithstanding a slight increase in freight carriage, due to a 7.6% fall in yield. Engineering services revenue fell (-$32 million) on the back of reduced overhaul activities.
On the other hand, other revenue increased, including income earned upon the release of seven aircraft delivery slots originally planned for delivery in the next few financial years
After non-operating items, Group net profit improved $56 million year-on-year to $91 million.