(Reuters) -Singapore Airways (SIA) reported a half-year revenue on Friday that almost halved year-on-year, reflecting intensifying market competitors coupled with larger gasoline prices and bills.
Airways globally have ramped up the variety of flights and routes to cater to strong air journey demand, which has resulted in elevated competitors, placing stress on ticket costs and squeezing revenue margins.
The town state’s flag-carrier stated web revenue slumped to S$742 million ($561.61 million) for the six months ended Sept. 30 from S$1.44 billion reported a 12 months in the past.
The airline’s whole bills rose to S$8.70 billion for the half-year, a 14.4% rise, on the again of a leap in each gasoline and non-fuel prices.
SIA additionally declared an interim dividend of 10 Singapore cents per share.
($1 = 1.3212 Singapore {dollars})
