Singapore Airlines Group (SIA) has reported a S$711.1 million net profit for the first nine months of its 2017-2018 fiscal year, up 42.6 per cent over the S$498.7 million for the same year-ago period. 

SIA cited strong cargo and passenger revenue partially offset by higher fuel expenses for the results.

 

SIA Cargo’s S$120 million operating profit for the period was a 15-fold increase over its S$8 million operating income in the same period in FY 2016-2017. 

 

SIA Cargo also reported a SG210 million improvement in revenue year-over-year for the nine months as air freight market conditions improved.

 

The group said all major entities except regional carrier Silk Air reported improved operating results.