Fuel Costs Cut Singapore Airlines Group 1Q Profit By 38%

The Singapore Airlines Group has been the standout performer in Asia during the recovery, skillfully managing capacity to stay just ahead of demand and produce high and profitable passenger loads over the last 18 months. Yesterday, the Group released its first-quarter financial results, which show increased year-on-year (YoY) revenues but a significant drop in profits, mainly due to higher fuel expenses.