February 14, 2020 / 10:14 AM / 8 days ago

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

SINGAPORE, Feb 14 (Reuters) - 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.

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

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