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$฀Million
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2007-082006-072005-062004-052003-04
Passenger Revenue
Singapore Airlines Annual Report 2007-08
62
FINANCIAL REVIEW
Performance of the Company (continued)
Revenue
The฀Company’s฀revenue฀increased฀12.5฀per฀cent฀to฀$12,760฀million฀as฀follows:
2007-08 2006-07 Change
$ million $ million %
Passenger฀revenue฀ 9,797.9฀ 8,573.4฀ +฀ 14.3
Excess฀baggage฀revenue฀ 28.2฀ 27.6฀ +฀ 2.2
Non-scheduled฀services฀ 6.4฀ 4.5฀ +฀ 42.2
Bellyhold฀revenue฀from฀SIA฀Cargo฀ 1,206.4฀ 1,157.3฀ +฀ 4.2
Direct฀operating฀revenue฀ 11,038.9฀ 9,762.8฀ +฀ 13.1
Indirect฀operating฀revenue฀ 1,720.7฀ 1,581.1฀ +฀ 8.8
Total฀operating฀revenue฀ 12,759.6฀ 11,343.9฀ +฀ 12.5
The฀14.3%฀increase฀in฀passenger฀revenue฀was฀the฀result฀of:
$ million $ million
2.6%฀increase฀in฀passenger฀trafc:
1.2%฀increase฀in฀seat฀capacity฀ +฀ 103.0
1.1%฀points฀increase฀in฀passenger฀load฀factor฀ +฀ 120.1฀ +฀ 223.1
11.5%฀increase฀in฀passenger฀yield฀(excluding฀fuel฀surcharge):
Higher฀local฀currency฀yields฀ +฀ 839.4
Change฀in฀passenger฀mix฀ +฀ 144.3
Foreign฀exchange฀ +฀ 17.7฀ +฀1,001.4
Increase฀in฀passenger฀revenue฀ ฀ ฀ +฀1,224.5
Bellyhold฀revenue฀increased฀4.2฀per฀cent฀to฀$1,206฀million฀due฀to฀higher฀net฀bellyhold฀capacity฀(+10.2฀per฀cent)฀because฀of฀
increased฀passenger฀operations฀and฀recovery฀of฀higher฀fuel฀costs฀from฀SIA฀Cargo.
Indirect฀operating฀revenue฀increased฀8.8฀per฀cent฀to฀$1,721฀million.฀This฀was฀mainly฀due฀to฀higher฀fuel฀surcharge,฀partially฀
offset฀by฀lower฀other฀incidental฀revenue.
The฀sensitivity฀of฀passenger฀revenue฀to฀a฀one฀percentage฀point฀change฀in฀passenger฀load฀factor฀and฀a฀one฀percentage฀change฀
in฀passenger฀yield฀is฀as฀follows:
$ million
1.0%฀point฀change฀in฀passenger฀load฀factor,฀if฀yield฀and฀seat฀capacity฀remain฀constant฀ 122.0
1.0%฀change฀in฀passenger฀yield,฀if฀passenger฀trafc฀remains฀constant฀ 98.0