Singapore Airlines 2004 Annual Report Download - page 50

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48 SIA Annual Report 03/04
Financial Review
90
75
60
45
30
15
0
Passenger Load Factor by Route Region
Percent
Percent
East Americas Europe South West West Asia
Asia Pacific and Africa
2003-04
2002-03
90
75
60
45
30
15
0
Performance of the Company (continued)
Operating Performance (continued)
Passenger Load Factor (%) Change
2003-04 2002-03 (% points)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
East Asia 66.3 67.5 – 1.2
Americas 74.0 72.4 + 1.6
Europe 76.1 79.1 – 3.0
South West Pacific 78.0 81.7 – 3.7
West Asia and Africa 72.5 74.7 – 2.2
––––––––––––––––––––––––––––––––––––––––––––––––––––
Systemwide 73.3 74.5 – 1.2
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Earnings
2003-04 2002-03
$ million $ million % Change
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Revenue 7,187.6 8,047.0 – 10.7
Expenditure (7,037.4) (7,838.0) – 10.2
–––––––––––––––––––––––––––––––––––––––––––––––––––
Operating Profit 150.2 209.0 – 28.1
Finance charges (56.4) (52.1) + 8.3
Interest income 33.1 38.5 – 14.0
Surplus on disposal of aircraft, spares and spare engines 100.1 138.3 – 27.6
Surplus/(loss) on disposal of other fixed assets 4.7 (0.8) n.m.
Dividends from subsidiary and associated companies, gross 118.9 131.5 – 9.6
Dividends from long-term investments, gross 2.5 4.1 – 39.0
Provision for diminution in value of investments (8.5) (9.4) – 9.6
–––––––––––––––––––––––––––––––––––––––––––––––––––
Profit before exceptional items 344.6 459.1 – 24.9
Exceptional items (16.2) 1.0 n.m.
–––––––––––––––––––––––––––––––––––––––––––––––––––
Profit before taxation 328.4 460.1 – 28.6
Taxation expense (63.5) (67.2) – 5.5
Adjustment for reduction in Singapore statutory tax rate 164.4 225.1 – 27.0
–––––––––––––––––––––––––––––––––––––––––––––––––––
Profit after taxation 429.3 618.0 – 30.5
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
n.m. not meaningful