Company Watch - Singapore Airlines.
Singapore Aircraft Leasing Enterprise reported a profit of $34.7 million for the financial year ended March 31, "a sixfold increase from the previous year" when it earned $5.2 million. Revenues rose 29% to $255.1 million. According to the operating lessor, the strong performance "reflects the market rebound in the aircraft leasing business, which traditionally lags the airline industry cycle by up to two years." Lease rates for new contracts "are generating significantly increased returns," while "low-yielding leases signed during the downturn have largely expired and been replaced by higher rentals with better credit airlines." SALE took delivery of 17 new aircraft last year, comprising seven A320s directly from Airbus and 10 A319s acquired under sale/leaseback arrangements with airlines. The SALE portfolio numbered 79 aircraft at fiscal year end, up from 62 in FY05. May 15, 2006
Singapore Airlines flew 7.06 billion RPKs in April, an 11% increase over the year-ago month. Capacity rose 4.1% to 9.26 billion ASKs, lifting load factor 4.8 points to 76.3%. May 18, 2006
Singapore Airlines increased its fuel surcharge to $60 per ticket from $50 on most flights and to $20 from $15 on select regional operations, effective yesterday. May 16, 2006
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|Date:||May 22, 2006|
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