Singapore Airlines' segments disappointed with weak results

Despite a hefty $75m revenue.

According to DBS, at the operating level, SIA booked an additional S$75m in revenue for settlement pertaining to changes in aircraft delivery slots, which helped lift SIA’s passenger business’ operating earnings to rise slightly to S$89m (vs S$85m a year ago).

DBS said that meanwhile, all other segments posted weak results y-o-y (SilkAir S$14m vs S$18m; SIA Cargo S$40m loss vs S$49m loss; SIE S$28m vs S$34m a year ago).

"A gain of S$336m was booked on the sale of its 49% Virgin Atlantic stake, but this was offset by impairment charges on four surplus cargo planes marked for sale (S$293m) and impairment of Singapore Flying College (S$24m)," DBS said.

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