Singapore Airlines 2013 Annual Report Download - page 79
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077
ANNUAL REPORT 2012/13
Performance of the Company (continued)
Fuel Productivity and Sensitivity Analysis
Fuel productivity as measured by load tonne-km per barrel (ltk/BBL) decreased 0.5 per cent over the previous year to 419ltk/BBL.
This was mainly due to lower bellyhold load factor.
A change in fuel productivity (passenger aircraft) of 1.0 per cent would impact the Company’s annual fuel cost by about
$50 million, before accounting for changes in fuel price, USD exchange rate and flying operations.
A change in the price of fuel of one USD per barrel affects the Company’s annual fuel cost by about $38 million, before accounting
for USD exchange movements, and changes in volume of fuel consumed.
Finance Charges
In 2012-13, finance charges decreased $30 million or 45.2 per cent, mainly due to the repayment of $900 million fixed rate
note by the Company in December 2011.
Interest Income
Interest income was $12 million or 23.6 per cent higher, largely due to higher interest from the Company’s investment in bonds
and credit-linked notes.
Surplus on Disposal of Aircraft, Spares and Spare Engines
The $73 million gain on disposal of aircraft, spares and spare engines arose mainly from the sale and leaseback of 14 Trent
800 engines and two A380-800 aircraft. Last year’s $4 million loss on disposal of aircraft, spares and spare engines was mainly
from loss on sale of one B747-400 aircraft, partially offset by gain on sale and leaseback of four B777-300 engines and one
A380-800 aircraft.
Other Non-operating Items
Other non-operating items pertained mainly to the impairment loss of $1,169 million recorded on the Company’s investment in
Virgin Atlantic Limited to write down its carrying value to a recoverable value of USD360 million ($447 million).
Fuel Productivity of Passenger Fleet
LTK/BBL
440
430
420
410
400
LTK/BBL
430
440
400
410
420
2008-09 2009-10 2010-11 2011-12 2012-13