Singapore AirlinesÆ cargo operating profit slumps 46%
Singapore Airlines' cargo unit posted an operating profit of S$52 million ($33.8 million) in its third fiscal quarter ended Dec. 31, down 46.3 percent compared to the year-earlier quarter.
The airline's cargo load factor fell 3.5 percentage points to 63.1 percent as freight traffic grew below the increase in capacity.
The group's operating profit surged 48.6 percent in the quarter to S$589.2 million ($382.5 million), thanks largely to the sale of its stake in Singapore Aircraft Leasing Enterprise in December.