Singapore Airlines 2009 Annual Report Download - page 63
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61
Performance of the Company (continued)
Expenditure
The Company’s expenditure for 2008-09 increased 10.0 per cent from a year ago, to $12,227 million as follows:
2008-09 2007-08 Change
$ million % $ million % $ million %
Fuel costs 5,349.4 43.8 4,054.9 36.5 + 1,294.5 + 31.9
Staff costs 1,524.9 12.5 1,841.1 16.6 – 316.2 – 17.2
Depreciation R1 1,376.7 11.2 1,165.1 10.5 + 211.6 + 18.2
Handling charges 827.2 6.8 771.0 6.9 + 56.2 + 7.3
Sales costs R2 610.7 5.0 658.7 5.9 – 48.0 – 7.3
Infl ight meals and other passenger costs 579.8 4.7 613.9 5.5 – 34.1 – 5.6
Airport and overfl ying charges 542.1 4.4 536.1 4.8 + 6.0 + 1.1
Aircraft maintenance and overhaul costs 486.7 4.0 538.8 4.9 – 52.1 – 9.7
Rentals on leased aircraft 412.5 3.4 304.2 2.7 + 108.3 + 35.6
Communication and information 101.8 0.8 104.6 0.9 – 2.8 – 2.7
technology costs R3
Other costs R4 414.8 3.4 527.2 4.8 – 112.4 – 21.3
12,226.6 100.0 11,115.6 100.0 + 1,111.0 + 10.0
R1 Depreciation included impairment of property, plant and equipment and amortisation of computer software.
R2 Sales costs included commissions and incentives payable, frequent fl yer programme cost, computer reservation system booking
fees, advertising expenses and other sales costs.
R3 Communication and information technology costs were for data transmission and contract service fees, hire of computer
equipment, maintenance/rental of software, and information technology contract and professional fees.
R4 Other costs mainly comprised crew expenses, company accommodation cost, foreign exchange hedging and revaluation gain,
comprehensive aviation insurance cost, airport lounge expenses, non-information technology contract and professional fees,
expenses incurred to mount non-scheduled services, aircraft licence fees and recoveries.
A breakdown by fuel cost is shown below:
2008-09 2007-08 Change
$ million $ million $ Million
Fuel cost (before hedging) 5,043 4,240 + 803
Fuel hedging loss/(gain) 306 (185) + 491
Fuel cost (net) 5,349 4,055 + 1,294
Expenditure on fuel (before hedging) was $803 million higher because of:
$ million
19.6% increase in weighted average fuel price from 99.2 USD/BBL to 118.6 USD/BBL + 860
2.8% increase in volume uplifted from 29.2 M BBL to 30.0 M BBL + 145
3.9% weakening of USD against SGD from US$1=S$1.473 to US$1=S$1.416 – 202
+ 803