Singapore Airlines 2014 Annual Report Download - page 85
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083
ANNUAL REPORT FY2013/14
Performance of the Company (continued)
Fuel Productivity and Sensitivity Analysis
Fuel productivity as measured by load tonne-km per barrel (ltk/BBL) improved 1.2 per cent over the previous year to 424ltk/BBL.
This was largely due to the cessation of the ultra long-haul direct flights to Americas.
A change in fuel productivity (passenger aircraft) of 1.0 per cent would impact the Company’s annual fuel cost by about
$49 million, before accounting for changes in fuel price, USD exchange rate and flying operations.
A change in the price of fuel of one USD per barrel affects the Company’s annual fuel cost by about $39 million, before accounting
for USD exchange movements, and changes in volume of fuel consumed.
Finance Charges
In 2013/14, finance charges decreased $3 million or 6.9 per cent, mainly due to lower interest expense recorded on other
receivables measured at amortised cost.
Interest Income
Interest income was $3 million or 4.0 per cent higher, largely due to higher interest from short-term deposit, bonds, fixed rate notes
and investment funds.
SurplusonDisposalofAircraft,SparesandSpareEngines
The $46 million gain on disposal of aircraft, spares and spare engines arose mainly from the sale of three B777-200 and five
A340-500 aircraft. Last year’s $73 million gain on disposal of aircraft, spares and spare engines was mainly from the sale of
14 Trent 800 engines and two A380-800 aircraft.
OtherNon-OperatingItems
Other non-operating items in 2013/14 comprised largely impairment loss of $54 million recorded on the Company’s investment
in Tiger Airways Holdings Limited to write down its carrying value to its fair market value. Last year’s other non-operating items
pertained mainly to the impairment loss of $1,169 million recorded on the Company’s investment in Virgin Atlantic Limited to
write down its carrying value to a recoverable value of USD360 million ($447 million).
Fuel Productivity of Passenger Fleet
LTK/BBL
440
430
420
410
400
LTK/BBL
430
440
400
410
420
2009/10 2010/11 2011/12 2012/13 2013/14