Singapore Airlines to Continue Expanding Network Despite Mideast Conflict

By Kimberley Kao

Singapore Airlines will continue expanding its network despite uncertainty in the Middle East, Chief Executive Goh Choon Phong said Friday.

Higher fuel costs driven by the conflict have been among the biggest impacts on the carrier, though it hasn't made capacity cuts beyond temporary flight reductions to the Middle East, Goh said at a briefing.

The city-state carrier continues to look for opportunities to capture air traffic, he added.

Goh also said SIA remains committed to Air India, describing its investment in the airline as a "long game." Building a secondary overseas hub is key to SIA's long-term growth because it doesn't have a domestic aviation market, he said.

The comments came as SIA posted a 57% drop in net profit for the 12 months ended March, partly due to losses tied to its 25% stake in Air India.

SIA said it expects to feel the full impact of higher fuel costs in the new fiscal year. Shares of SIA were last 2.1% higher.

Write to Kimberley Kao at [e-mail]

(END) Dow Jones Newswires

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