SIA's profit beats estimate on Virgin stake sale
It posted $27m net income.
According to Bloomberg, Singapore Airlines Ltd. (SIA), Asia’s biggest airline by market value, reported profit that beat estimates as gains from the sale of its stake in Richard Branson’s Virgin Atlantic Airways Ltd. offset an operating loss.
Net income was at S$27 million ($22 million) in the quarter ended in March, exceeding the S$8 million average of four analysts’ estimates compiled by Bloomberg.
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