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Singapore Airlines says SIA Cargo to be re-integrated as division within company

Thursday, 18 May 2017 07:39pm EDT

May 19 (Reuters) - Singapore Airlines Ltd ::SIA Cargo to be re-integrated as a division within Singapore Airlines .Re-integration is expected to be completed in first half of 2018, when SIA Cargo will become cargo division of SIA.There will be no change to SIA Cargo's operations.Majority of SIA Cargo's nearly 900 employees to be retained in new cargo division; some will be transferred to other SIA divisions.Reintegration is not expected to have a material impact on SIA's financial performance in 2017/18 financial year.

Virgin Australia Q3 statutory loss after tax $69 mln

Wednesday, 17 May 2017 07:37pm EDT

May 18 (Reuters) - Virgin Australia Holdings Ltd ::Underlying loss before tax of $62.3 million and a statutory loss after tax of $69.0 million for Q3 of 2017.Currently expects its underlying performance for Q4 of 2017 financial year to improve on Q4 of 2016 financial year.Expected that adverse cost impact of EMBRAER 190 and ATR fleet simplification measures will be reduced over next 12 months.Qtrly group revenue load factor 78.8% versus 78.2% a year ago.Qtrly group available seat kilometres 11,181 million versus 11,651 million.On track to deliver net free cash flow savings increasing to $300 million per annum from better business program by end of FY19.Qtrly group revenue passenger kilometres 8,808 million versus 9,108 million.


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