Reuters UK, 10 Feb 2009, Saeed Azhar
SINGAPORE, Feb 10 (Reuters) - Singapore Airlines, the world's largest airline by market value, posted a 43 percent drop in quarterly profit, hurt by hedging losses and slowing demand for travel and cargo amid a global economic downturn.
Singapore Air (SIAL.SI), which ranks ahead of Japan's All Nippon Airways (9202.T), also warned that demand for air transport will remain weak this year as global trade slows. The city-state's flag carrier may continue to scale back flights and reduce capacity to cope with the downturn.
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Related News:
Bad bets, empty seats drop Singapore Air 43% - International Herald Tribune, 10 Feb 09
Singapore Air’s Net Drops 43% as Slowdown Saps Demand - Bloomberg, 10 Feb 09
Empty Seats and Hedging Losses Cause Singapore Air’s Profits to Plummet 43% - eTravel Blackboard, 11 Feb 09
