Singapore Airlines 2009 Annual Report Download - page 65

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63
Performance of the Company (continued)
Fuel Productivity and Sensitivity Analysis (continued)
A change in the price of fuel of one US dollar per barrel affects the Company’s annual fuel cost by about $46 million,
before accounting for USD exchange rate movements, and changes in volume of fuel consumed.
Finance Charges
Finance charges decreased 27.4 per cent mainly attributable to lower weighted average interest rate for interest-
bearing fi nancial liabilities.
Interest Income
Interest income was lower by 44.4 per cent due mainly to lower average interest rates on short-term deposits.
Dividends from Subsidiary Companies
Dividends from subsidiary companies increased by $91 million, mainly contributed by higher dividends received
from SIA Engineering Company (+$78 million).
Taxation
There was a net tax charge of $34 million, comprising current tax of $165 million, deferred tax credit of $17 million
and a write-back of $114 million in respect of prior years’ deferred tax liabilities which arose from the 1 percentage
point reduction in corporate tax rate.
As at 31 March 2009, the company’s deferred taxation account stood at $1,816 million.