Singapore Airlines shares fall 6% as profit nearly halves amid intensifying competition
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Singapore Airlines shares fell 6% after reporting a nearly 50% drop in net profit for April to September, due to lower yields and increased competition.
November 11, 2024 | 2:30 am
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Singapore Airlines reported a nearly 50% drop in net profit for April to September, leading to a 6% drop in its stock price due to lower yields and increased competition.
The significant drop in net profit and the immediate 6% decline in stock price indicate a negative short-term impact on SINGY. The market reacted to the earnings report, reflecting concerns over profitability and competitive pressures.
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