Singapore Airlines's net profit up 47 percent in Q4

Singapore Airlines (SIA), one of the largest airlines in the world, registered a net profit of 39.6 million Singapore dollars (29.8 million U.S. dollars) for the fourth quarter of FY14/15, up 47 percent from a year ago, the company said in a press release on Thursday.

The increase is mainly due to lower oil prices, it added.

Total group revenue rose from 3.63 billion Singapore dollars a year ago to 3.88 billion Singapore dollars, while total spending increased to 3.79 billion Singapore dollars (2.85 billion U.S. dollars).

For the full year to March, the company's net profit rose 2.3 percent to 367.9 million Singapore dollars (276.6 million U.S. dollars), while total revenue increased 2.1 percent to 15.6 billion Singapore dollars (11.7 billion U.S. dollars).

SIA said that market conditions remain challenging amid an uncertain global economic outlook, with demand in key markets especially the United States and Europe still soft.

Looking ahead, SIA said it will continue its disciplined approach in capacity deployment and cost management, while enhancing product offerings and leveraging the various airline subsidiaries to tap demand across a diverse range of travel segments. Endi