Air Transport World

SIA Group. (Asia/Pacific Report).(reports financial results for fiscal half year )(Brief Article)

SIA Group, parent of Singapore Airlines, reported a S$773.5 million ($435.9 million) net profit for its fiscal half year ended Sept. 30, a massive increase from S$134.8 million a year ago. Current-period results benefited from a tax write-back of S$278 million owing to a cut in the corporate tax rate that boosted the profit from S$499 million. However, the recent terrorist attack in Bali, the threat of war in Iraq and a "less positive" forecast beyond Christmas mean the second half will be "more challenging" than the first.

SIA said the better results also were attributable to a surplus on disposal of aircraft, spare engines and spares; a higher share of profits of associated companies, and increased contributions from Eagle Services Asia and Virgin Atlantic Ltd. …

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