Singapore Airlines Group posts full year net profit of S$804m

Singapore Airlines Group reported a net profit of S$804m in the 2015-16 financial year, a S$436m improvement over the net profit recorded in the last financial year (+118.5%). Group operating profit increased S$271m (+66.1%) year-on-year to
S$681m. Dividends received from long-term investments were higher (+S$102m), while the Group’s share of losses of associated companies were reduced by S$118m. Group revenue was S$15,228m, down S$338m or 2.2% from last year, mainly attributable to lower passenger revenue at the Parent Airline Company and lower cargo revenue, compensated in part by higher revenue from subsidiary airlines and income earned upon the release of seven A350-900 delivery slots. Both passenger and cargo yields declined compared to last year. SIA Engineering’s operating profit of S$104m was S$20m higher compared to last year.