SIA posts 20.4% fall in 1Q earnings to S$111 mil on higher losses from Virgin Australia

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SINGAPORE (July 31): SIA Group reported earnings of S$111.1 million for 1Q19/20 ended June, 20.7% lower than a year ago.

The weaker bottomline was mainly due to higher share of losses from associate Virgin Australia, despite an improvement in Vistara’s performance.

Correspondingly, earnings per share fell to 9.4 cents, from 11.8 cents the previous year. 

1Q19/20 group revenue came in 6.7% higher at S$4.1 billion, as passenger flown revenue improved S$271 million or 8.8%, led by traffic growth of 8.1%, on a 6.6% increase in capacity. Despite the significant capacity...(click on link for full story on theedgesingapore.com)