Premium airlines in Asia are rethinking their strategies and slashing costs as high fuel prices, global economic uncertainty and pressure from Middle East and budget carriers squeeze profits.
Singapore Airlines (SIA) reported last week that its net profit for the financial year ended in March tumbled 69 per cent to Sg$336 million ($A268.60 million), weighed down by a rare loss in the fourth quarter.
It was only SIA's third quarterly loss in its 40-year history of uninterrupted full-year profit. The first took place during the SARS health scare in 2003 and the second during the global financial crisis in 2009.
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