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SIA has listed outthe first factor of expenditure increasing is due to Weaker operating performance.
SIA basically can do nothing about fuel expenditure.
SIA basically can do nothing about fuel expenditure.
Sin_Cos_Tan ( Date: 01-Aug-2024 13:32) Posted:
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SIA GROUP REPORTS FIRST QUARTER NET PROFIT OF $452 MILLION
* Passenger flown revenue up on capacity growth and strong load factors
* Lower yield and rise in fuel costs ($ 317M ) contribute to lower year-on-year operating profit
* Airline industry continues to contend with heightened competition, supply chain constraints, inflationary cost pressures, and geopolitical uncertainties
* Group remains well-positioned to navigate challenges and pursue growth opportunities leveraging its robust foundations,
strategic initiatives such as investments in India and deeper airline partnerships, and rigorous cost discipline
https://www.singaporeair.com/content/dam/sia/web-assets/pdfs/about-us/information-for-investors/financial-results/bu-q1fy2425.pdf
* Passenger flown revenue up on capacity growth and strong load factors
* Lower yield and rise in fuel costs ($ 317M ) contribute to lower year-on-year operating profit
* Airline industry continues to contend with heightened competition, supply chain constraints, inflationary cost pressures, and geopolitical uncertainties
* Group remains well-positioned to navigate challenges and pursue growth opportunities leveraging its robust foundations,
strategic initiatives such as investments in India and deeper airline partnerships, and rigorous cost discipline
https://www.singaporeair.com/content/dam/sia/web-assets/pdfs/about-us/information-for-investors/financial-results/bu-q1fy2425.pdf
, True.BinderyT ( Date: 01-Aug-2024 13:19) Posted:
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They keep blaming fuel cost. Read the fine print in last annual report - Staff Salary Cost increased $500m (!!). Rising cost, reducing profit but CEO keeps awarding himself more bonus. SIA takes care of itself. Screw the shareholders and customers.
Mark001 ( Date: 01-Aug-2024 13:15) Posted:
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SIA Q1 profit down 38.5% to S$451.7 million on surge in expenses
Revenue rose 5.3% to S$4.7 billion
Non-fuel expenditure increased 7.7 % to S$2.9 billion
My interpretaion:
Q1 performance is worse than average.
With year over year improvements, SIA' non-fuel expenditure should be in line with or less than sales growth.
My interpretaion:
Q1 performance is worse than average.
With year over year improvements, SIA' non-fuel expenditure should be in line with or less than sales growth.
goldenpotato ( Date: 01-Aug-2024 11:56) Posted:
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Sat in an SQ lately and they feed you like a refugee with a cardboard box?
goldenpotato ( Date: 01-Aug-2024 11:56) Posted:
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During covid, it begged the public and shareholders for support, which we gave. Barely had a profitable quarter and it rewarded itself, CEO and staff. Despite rising cost, ignored and failed to hedge. CEO should be fired.
No worries, business up and down normal lar, this is still a profitable yet promising company
huattuatua ( Date: 01-Aug-2024 11:34) Posted:
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sigh, shd have listened to this.
wait4opp ( Date: 31-Jul-2024 17:29) Posted:
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SIA Q1 profit down 38.5% to S$451.7 million on surge in expenses
Revenue in the period rose 5.3% year on year to S$4.7 billion
SINGAPORE Airlines (SIA) : C6L +0.87% reported a net profit of S$451.7 million in the first quarter, a 38.5 per cent drop from S$734 million in the year-ago period.
Weaker operating performance, a reduction in net interest income, lower surplus on disposal of aircrafts and spare engines, and a lower share of profit from its associated companies contributed to the decline in net profit, the group said on Wednesday (Jul 31).
Revenue rose 5.3 per cent year on year to S$4.7 billion in the three months ended Jun 30, SIA said. Passenger flown revenue grew 4.1 per cent to S$3.8 billion, supported by a 13.8 per cent increase in passengers carried and strong load factors.
Cargo flown revenue was marginally lower than a year before, declining 0.2 per cent to S$541 million.
&ldquo Overall air cargo demand remained buoyant, supported by strong e-commerce flows and increased demand for air freight driven by the Red Sea crisis and port congestion,&rdquo SIA said.
Group expenditure was up 14 per cent at S$4.2 billion. Fuel expenditure rose 30.1 per cent to S$1.4 billion, while non-fuel expenditure increased 7.7 per cent to S$2.9 billion.
As at Jun 30, the group&rsquo s operating fleet comprised 202 passenger and freighter aircraft with an average age of seven years and four months.
During the quarter, SIA commenced flights to Brussels and the Gatwick airport in London. Scoot began operating flights with its new aircraft, the Embraer E190-E2, to Koh Samui in May and Sibu, Malaysia in June.
In June, SIA announced plans to launch daily flights between Singapore and the Beijing Daxing International Airport from Nov 11, pending regulatory approval. The carrier will also increase its frequency to Beijing Capital International Airport to 21 weekly services from August.
Earnings per share stood at 12.8 Singapore cents, down from 14.3 cents in Q1 last year.
&ldquo Demand for travel remained robust in the first quarter and is expected to stay healthy in the upcoming months,&rdquo SIA said. The group will remain nimble and agile and seize growth opportunities that may arise, it added.
However, passenger yields are expected to stay below the previous year&rsquo s levels as more capacity enters the market, particularly in the Asia-Pacific region. &ldquo The global airline industry continues to face challenges from increased competition, supply chain constraints, inflationary pressures on operating costs including from airports and service providers, and geopolitical uncertainties,&rdquo SIA added.
Can some estimate how much div payout in Dec from 452m profit?
Fiat500 ( Date: 31-Jul-2024 18:41) Posted:
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The Russia-Ukraine war and tensions in the Middle East are the major obstacles to oil price cut.
Don' t easily trust hasty promises from people with no credibility.
Don' t easily trust hasty promises from people with no credibility.
Secret_Squirrel ( Date: 01-Aug-2024 10:11) Posted:
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Drop so much....
Secret_Squirrel ( Date: 01-Aug-2024 10:11) Posted:
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If Trump wins this year, fuel price likely to drop as he doesn' t like clean energy. lol
His policy will make sure fuel price drop so that Americans do not have to pay more.
It will also reduce Russia and Iran source of revenue from oil..
That could be the reason why he said he could stop the Russia and Ukarine war if he is elected to be the President. lol
If fuel price drop, then SIA' s profit will be better.
His policy will make sure fuel price drop so that Americans do not have to pay more.
It will also reduce Russia and Iran source of revenue from oil..
That could be the reason why he said he could stop the Russia and Ukarine war if he is elected to be the President. lol
If fuel price drop, then SIA' s profit will be better.
FATABA ( Date: 01-Aug-2024 09:22) Posted:
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W last record profit on hand and already facing headwinds .....SIA go ahead w a 38c dividend and many mths of staff bonus
( CEO also record salary )
I guess this is what a great CEO is needed to see ahead of the tough time coming up ....Fuel cost rise w Middle east situation etc.
If not careful , SIA can go back to lost .
DYODD
( CEO also record salary )
I guess this is what a great CEO is needed to see ahead of the tough time coming up ....Fuel cost rise w Middle east situation etc.
If not careful , SIA can go back to lost .
DYODD
HuatAh7898 ( Date: 31-Jul-2024 23:12) Posted:
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Sell on news but buy with pressure.
heavy selling pressures tomorrow....
operating costs concern is a key factor that did not go down well with big funds
Watch it 👎
operating costs concern is a key factor that did not go down well with big funds
Watch it 👎
shareholders should protest on ceo' s n mgmt pay next agm, knowing the yield no good n oil pirce high, didnt they hedge the oil?
Fiat500 ( Date: 31-Jul-2024 18:41) Posted:
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452m profit is still a very good profit..U can't compare with 1Q last year as it was revenge travel back than. XD tomorrow surely will drop but it won't be more than a dollar imo.The pax load is still very healthy overall, share price will recover in no time.
wait4opp ( Date: 31-Jul-2024 17:29) Posted:
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