Here is a news to sleep the night over with:
SINGAPORE - Singapore Airlines (SIA) said Thursday its net profit fell 14.6 percent in its third quarter to December from a year ago as expenses ballooned due to soaring jet fuel costs.
The net profit of S$397 million (US$244m) compared with S$465 million for the same period last year, but was higher than analysts' forecasts of between S$314 million and S$380 million.
Expenditures expanded 14.1 percent, outpacing the 11.1 percent year-on-year growth in revenue which totalled S$3.557 billion, SIA said in a statement. (Source: Channel News Asia)
Now, that is not a small profit. Its equivalent to RM833 million and that is not yet for the full fiscal year. In contrast, Malaysia Airlines is still trying to turnaround after registering a loss of RM367.7 million in the quarter ended September 2005.
It doesn't feel good in the heart thinking about the two contrasting scenario. It's like living in a dipalidated hut next to a rich neighbour and the neighbour had just brought in their spanking new SUV. I can only wish Idris Jala all the best.
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2 Responses to "As MAS Trying To Turnaround, SIA Posted S$375 Million Net Profit":
We all know MAS could do a lot better but I think the comparison between the 2 airlines is not fair. They both have distinctly different agendas.
sic6sense,
agreed, comparing the two would not be fair. still, like you said Mas could do a lot better than it presently is
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