Singapore Airlines 2008 Annual Report Download - page 67
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Fuel Productivity of Passenger Fleet
Singapore Airlines Annual Report 2007-08
65
FINANCIAL REVIEW
Performance of the Company (continued)
Fuel Productivity and Sensitivity Analysis
Fuelproductivityasmeasuredbyloadtonne-kmperAmericangallon(ltk/AG)increasedby4.0%overthepreviousyearto
10.20ltk/AG.Thiswasattributabletohigherloadfactorandayoungeraircrafteet,arisingfromtheadditionofthenew
A380-800andB777-300ERaircraftanddecommissioningofsomeoftheolderB747-400aircraft.
Achangeinfuelproductivity(passengeraircraft)of1.0percentwouldimpacttheCompany’sannualfuelcostbyabout$40
million,beforeaccountingforchangesinfuelprice,USDexchangerateandyingoperations.
AchangeinpriceoffuelbyoneUScentperAmericangallonaffectstheCompany’sannualfuelcostbyabout$17million,
beforeaccountingforUSDexchangeratemovements,andchangesinvolumeoffuelconsumed.
Finance Charges
Financechargesdecreased20.0percentduemainlytorepaymentofleaseliabilitiesin2006-07.
Surplus on Disposal of Aircraft, Spares and Spare Engines
Surplusonthedisposalofaircraft,sparesandspareengineswas$152millionlowerthantheyearbefore.Duringtheyear,two
B747-400aircraftweresoldascomparedtosaleoffourB747-400andthreeA310-300aircraftandsaleandleasebackoffour
B777-300aircraftlastyear.
Gross Dividends from Subsidiary Companies
Grossdividendsfromsubsidiarycompaniesdecreasedby$141million,mainlycontributedbylowerdividendsreceivedfrom
SIAEngineeringCompany(-$157million).Lastyear,SIAEngineeringCompanypaidaspecialdividendof20centspershare.
Exceptional Items
Therewerenoexceptionalitemsrecordedthisyear.Exceptionalitemslastyearcomprisedsurplusonsaleofthe35.5%equity
stakeinSALEof$340millionandsurplusonsaleofSIABuildingof$223million.
Taxation
Therewasataxchargeof$319million,comprisingcurrenttaxof$253millionanddeferredtaxof$66million.Lastyear’stax
chargeof$78millioncomprisedataxationexpenseof$272millionandawrite-backof$194millioninrespectofprioryears’
deferredtaxliabilitieswhicharosefromthe2percentagepointsreductioninstatutorytaxrate.
Asat31March2008,theCompany’sdeferredtaxationaccountstoodat$2,102million.