Singapore Airlines 2010 Annual Report Download - page 2
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Singapore Airlines achieved a net profit attributable to equity holders of S$216 million for the financial year
ended 31 March 2010.
During the first half of the year, demand for air travel declined due to the global economic slowdown as
well as the outbreak of Influenza A (H1N1). The Group recorded a net loss attributable to equity holders of
S$466 million for the first half of the financial year.
Despite the difficult times, the Airline did not lose sight of its commitment to delivering product and service
innovation. Singapore Airlines continued to invest in its long-term future by flying its flagship aircraft,
the Airbus A380, to more destinations, rolling out a cabin renewal programme for selected Boeing 777
aircraft, and opening a new service centre in the heart of Singapore’s premier shopping belt.
Market conditions gradually improved in the second half of the financial year. Reflecting this, the Airline
recorded higher passenger and cargo traffic. Together with the S$404 million net profit in the third quarter,
the fourth quarter net profit of S$278 million reversed the S$466 million loss recorded in the first half of
the financial year.
The business outlook for the Group in FY 2010-2011 is encouraging, although the sustainability of the
recovery depends on developments in the world economy and on business and consumer confidence.
The Airline plans to increase capacity in a measured manner in the new financial year. This will include a
new service to Tokyo’s Haneda Airport in October 2010, and increased frequencies to destinations such as
Hong Kong, Seoul and New Delhi.