Singapore Airlines lifts 2016 profit in NZ as cheap oil cuts fuel bill

Thu, 29 Sep 2016

By Sophie Boot Sept. 30 (BusinessDesk) - The New Zealand branch of Singapore Airlines lifted annual profit by 63 percent as cheap jet fuel helped the airline fatten margins while reaping smaller passenger revenues. Net profit rose to $7.9 million in the 12 months ended March 31, from $4.8 million a year earlier, Singapore Airlines NZ's financial statements lodged with the Companies Office show. Revenue, which is almost entirely attributable to passengers, dropped 12 percent to $175.8 million, while expenditure fell 14 percent to $168 mil...

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