Commodities

Singapore Airlines warns on virus as it posts 11% rise in Q3 profit

Credit: REUTERS/ARND WIEGMANN

Singapore Airlines Ltd faces "significant challenges" to its business from the coronavirus outbreak will be adjusting its network and tightly managing costs, it said on Friday, as it reported an 11% rise in third-quarter net profit.

SINGAPORE, Feb 14 (Reuters) - Singapore Airlines Ltd SIAL.SI faces "significant challenges" to its business from the coronavirus outbreak will be adjusting its network and tightly managing costs, it said on Friday, as it reported an 11% rise in third-quarter net profit.

The airline, a benchmark for premium carriers in Asia, said its earnings rose S$31 million to S$315 million in the quarter to Dec. 31 due as revenue reached record highs due to a transformation plan that boosted sales.

Looking forward, Singapore Airlines said it had "drastically" reduced flights on all mainland China routes and set up a high-level internal task force to monitor the virus situation and roll out measures to minimise the risk to staff and passengers.

(Reporting by Jamie Freed; editing by Himani Sarkar and Jason Neely)

((Jamie.Freed@thomsonreuters.com; +61 2 9321 8174;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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