SIA back in black after Sars

31st Oct 2003

SINGAPORE Airlines (SIA) said on Wednesday that it had returned to profit in the September quarter after Sars forced it into its first-ever loss in the previous three months.

SIA reported a a net profit of S$306 million (US$175 million) for its second quarter, up S$11 million from the same period last year.

For the first half, SIA recored a loss of S$6.5 million, compared with a profit in the first six months of last year of S$773.5 million.

SIA posted a loss of S$312.3 million in the three months to June with the blame placed on the outbreak of severe acute respiratory syndrome (Sars) epidemic that brought regional travel to a near standstill.

`As Sars receded in the region, demand responded well to sales promotions,` SIA said in a statement.


`The flights that were suspended because of Sars were restored progressively and capacity returned to around 90 per cent of pre-Sars levels by the end of September.

`In addition a new thrice-weekly direct service to Bangalore was launched on Aug 28.`

With the festive season approaching, SIA gave a positive short-term outlook.

`Barring any unfavourable events, passenger demand is expected to remain bouyant in the next two quarters, especially during the traditional year-end travel peak.`


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