The Wall Street Journal, 31 Jul 2009, P.R. VENKAT and MOHAMMED HADI
It is difficult to understand bullishness about Singapore Airlines when the carrier itself is warning of a difficult year.
The airline Thursday posted a $212 million loss for the quarter ended June and said it could be headed for its first ever full-year loss. Analysts collectively expected a near break-even quarterly figure, and still forecast an annual profit.
The surprise in the results was not so much the losses from the carrier's positions on jet-fuel prices but the size of the hit to both passenger and cargo yields, which fell 18% and 33% respectively.
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