Associated Press
Singapore Airlines Ltd. said its profit fell 38 percent in the January-March quarter as soaring fuel prices pushed up expenditure.
The carrier said in a statement Thursday that its net profit in the first quarter was SG$171 million (US$139 million) compared with SG$278 million a year earlier.
Quarterly revenue at the world's second-biggest airline by market capitalization rose to SG$3.59 billion from SG$3.34 billion a year earlier.
Expenditure increased to SG$3.42 billion from SG$3.10 billion as jet fuel prices jumped 34 percent from a year earlier.
The airline said high fuel prices and weakness in passenger numbers would continue to hurt operating performance in the near term.
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