Singapore Airlines Ltd. Thursday said its fiscal fourth-quarter net profit fell 60% as the flag carrier continued to battle stiff competition that is forcing it to discount fares.
Net profit in the three months ended March 31 fell to 27 million Singapore dollars (US$21.6 million), compared with S$68.3 million a year earlier. It was the second consecutive quarter of declining net profit.
"The operating environment for the Group continues to be challenging with intense competition in many areas, and economic uncertainty in key markets," Singapore Airlines said. Full story
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