By Justina Lee
Singapore Airlines Ltd. (C6L.SG) announced its results for the second quarter late Tuesday. Here is what we watched:
Net profit: For the quarter ended September 30, its net profit rose 68% on year to 94.6 million Singapore dollars (US$69.6 million). However, the result missed the S$135.4 million consensus estimate by analysts on FactSet.
Group Revenue: Group revenue grew to S$4.22 billion from S$4.06 billion, but even that was below the S$4.26 billion estimate on FactSet.
WHAT WE WATCHED:
--FUEL COSTS: Fuel costs rose to S$1.18 billion in the quarter, from S$1.16 billion a year ago. Singapore Airlines said that it expects fuel prices to remain volatile due to the current geopolitical and economic risks.
--PASSENGER YIELDS: Passenger yield remained unchanged at 9.9 Singapore cents per kilometer in the second quarter. But the airline said passenger bookings are expected to be stronger in the coming months with yields supported by premium cabin traffic.
Write to Justina Lee at firstname.lastname@example.org