Singapore Airlines FY profit up 12.8 percent

Singapore Airlines said its net profit in the year ending March "improved" 12.8 percent, boosted by surplus from the sale of aircraft, spares and spare engines, but warned the outlook remained bleak.

Net profit was $379 million on revenue of $15.10 billion, up 1.62 percent, it said in a statement.

For the fourth quarter, net profit was at $Sg68.3 million.

SIA attributed the rise in full-year and fourth quarter net profit mainly to "surplus on the sale of aircraft, spares and spare engines".

Passenger numbers rose 7.3 percent boosting revenues.

"The global economic outlook remains uncertain with the ongoing weakness in the eurozone and the sluggish recovery in the United States," the airline said.

Fuel costs accounted for nearly 40 percent of expenditure.

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