Hit by fines, Singapore Airlines posts drop in net profit

Monsters and Critics, 28 Jan 2011
Singapore - Singapore Airlines (SIA) on Friday posted a drop in its quarterly net profit as provisions for fines imposed by regulators in Europe and South Korea as well as a settlement with US authorities over cargo price-fixing charges spoiled its results.
Including provisions of 199 million Singapore dollars (155.5 million US dollars), net profit for the three months through December reached 288.3 million Singapore dollars, down from 403.7 million Singapore dollars a year ago, the airline said. Full story

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