SINGAPORE (Nov 14): Singapore Airlines reported an 81% decline in 2Q19 earnings to $56.4 million on higher fuel costs and lower passenger yield.

Including share of one-off losses of $116 million at associate Virgin Australia, 1H earnings fell 69% y-o-y to $196 million.

In a Wednesday report, DBS Group Research says with fuel prices at a substantially higher level currently, passenger yields need to improve for SIA to post returns equal or better than its cost of capital.

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