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Singapore Airlines reports a nearly 50% drop in net profit amid lower yields and increased competition.
Singapore Airlines (SIA) reported a 48.5% drop in net profit for the April to September period, citing lower yields and increased competition.
Operating profit fell 48.8% to $796 million SGD, despite a 3.7% rise in revenue to $9.5 billion SGD.
Shares initially fell 6.2% but recovered to a 3.72% loss.
The airline maintained an interim dividend of 10 Singapore cents a share, and plans to invest $1.1 billion SGD in a cabin retrofit program for its Airbus A350 jets by 2030.
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Singapore Airlines informa de una caída de casi el 50% en el beneficio neto en medio de menores rendimientos y una mayor competencia.