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Singapore Airlines posts 62 pct jump in Q3 net profit

Reuters

SINGAPORE, Feb 13 (Reuters) - Singapore Airlines Ltd reported on Tuesday a 62 percent rise in third-quarter net profit as growing passenger numbers and higher cargo revenue offset a decline in ticket prices and rising fuel costs.

The carrier, a benchmark for Asia's premium airlines, made S$286 million ($216.29 million) in the three months ended Dec. 31, up from S$177 million a year before.

The airline, like Hong Kong-based rival Cathay Pacific Airways Ltd, has been undertaking a transformation programme designed to cut costs and to boost revenue amid competition from Chinese and Middle Eastern rivals and low-cost carriers. ($1 = 1.3223 Singapore dollars) (Reporting by Jamie Freed; Editing by Stephen Coates and Muralikumar Anantharaman)