SIA profits fall
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Singapore Airlines (SIA) has said that its third quarter profits fell by 36% – its biggest year-on-year decline in three years. Bloomberg has reported that SIA’s net income dropped to SG$323.8 million (US$219 million) on the back of declining demand and high fuel prices. The carrier reportedly spent SG$1.92 billion on jet fuel in the quarter – its single-biggest expense.
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