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. Image: © Getty Copyright is owned by Asia Outlook and/or Outlook Publishing. All rights reserved.
Nine confirmed dead in collapsed Indonesia mine
Rescuers have recovered the bodies of four more workers from a collapsed underground room at a giant U.S.-owned gold and copper mine in Indonesia, bringing the confirmed death toll to nine. According to reports, nineteen others are still missing and feared dead. The Grasberg mine, the world's second largest copper mine, has an estimated 24,000 employees. A tunnel collapsed there last week when 38 workers were doing undergoing safety training. Ten injured miners were rescued. In 2011, workers staged a three-month protest asking for better pay. The miners went back to work after negotiating a pay rise of almost 40 percent. "I am deeply saddened and disturbed by this event," Freeport-McMoRan Copper & Gold Inc's CEO Richard Adkerson said in a statement. "Out focus continues to be continuing efforts to gain access to the victims still buried at the accident, carried out as quickly as can be done safely." Image: © Alfindra Primaldhi Copyright is owned by Asia Outlook and/or Outlook Publishing. All rights reserved.
