Singapore Airlines, the world’s second-largest carrier by market value, reported a worse-than- estimated 29% drop in third-quarter profit after it booked charges relating to antitrust cargo fines.
Net income declined to $288.3 million in the three months ended December from $404 million a year earlier, the carrier said in a statement to the Singapore stock exchange today. Profit was expected to be $299 million, based on the average of six analyst estimates compiled by Bloomberg. Singapore Air made a provision of $199 million for the fines.