Singapore Airlines full-year net profit down 69%

SINGAPORE—Singapore Airlines’ full-year profit slumped 69 percent year on year after a fourth-quarter loss due to high oil prices and global economic uncertainty, the leading Asian carrier said Wednesday.

Net profit for the year to March plunged to Sg$336 million ($268 million) on group revenues of Sg$14.86 billion, the carrier reported in a statement,

In the fourth quarter, the airline said it suffered a net loss of Sg$38.2 million, down from a profit of Sg$171 million in the same period the year before.

“Fuel prices are expected to remain at high levels, which will adversely impact the group’s operating performance,” the airline said.