SINGAPORE (July 27): Singapore Airlines (SIA) posts group earnings of $235.1 million for 1Q ended June, down 8.4% from earnings of $256.6 million a year ago.
This was mainly attributable to the absence of last year’s gain on SIA Engineering’s divestment of its 10.0% stake in Hong Kong Aero Engine Services (HAESL) and special dividends of $178 million received from HAESL.
The decline was partially mitigated by an $88 million increase in group operating profit, and a $47 million decrease in share of losses from associated companies.
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