| Journal: TWUK | Section: |
| Title: | Issue Date: 29/05/00 |
| Author: | Page Number: 80 |
| Copyright: Other |
SIA announces 31% rise in pre-tax profits
THE SIA Group, which includes Singapore Airlines, has reported a 31% rise in pre-tax profit of £546m in the year ending March 31.Disposal of shares in Delta and Swissair and the sale of aircraft boosted the profits of the airline to £613m, a rise of 86% on 1998/99.
However, SIA warned the coming year, particularly for passenger traffic, depends on an improving Asian market.
A spokesman said SIA’s acquisition of a 49% share in Virgin Atlantic and partnerships with Air New Zealand and Ansett Australia would provide future growth. The airline is also seeking rights to fly to the US from Heathrow. An order for a 550-seater double-decker Airbus A3XX to serve new routes is also pending.