Singapore Airlines 2010 Annual Report Download - page 64

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SINGAPORE AIRLINES
62
financial review
Performance of the Company (continued)
Revenue
The Company’s revenue decreased 22.3 per cent to $10,145 million as follows:
2009-10 2008-09 Change
$ million $ million %
Passenger revenue 7,318.1 9,492.8 - 22.9
Excess baggage revenue 26.0 30.5 - 14.8
Non-scheduled services 12.4 8.9 + 39.3
Bellyhold revenue from Singapore Airlines Cargo 999.5 1,347.2 - 25.8
Direct operating revenue 8,356.0 10,879.4 - 23.2
Indirect operating revenue 1,789.0 2,170.1 - 17.6
Total operating revenue 10,145.0 13,049.5 - 22.3
The Company’s passenger revenue decreased $2,175 million (-22.9 per cent) in 2009-10, as a result of:
$ million $ million
8.0% decrease in passenger traffic:
10.3% decrease in seat capacity - 982.0
1.9% points increase in passenger load factor + 219.3 - 762.7
16.2% decrease in passenger yield (excluding fuel surcharge):
Lower local currency yields - 1,399.6
Change in passenger mix - 32.4
Foreign exchange + 20.0 - 1,412.0
Decrease in passenger revenue - 2,174.7
The sensitivity of passenger revenue to 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 93.3
1.0% change in passenger yield, if passenger traffic remains constant 73.2