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Singapore Air shares fall, bucking gains among Asian carriers

Aviation & Engineering

Singapore Air shares fall, bucking gains among Asian carriers

Bloomberg Published on Wed, Nov 14, 2018 / 11:41 AM GMT+8

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SINGAPORE (Nov 14): Singapore Airlines bucked a rally among Asian airline stocks after reporting its biggest profit decline in at least seven years.

While shares of Cathay Pacific Airways, Korean Air Lines Co and regional rivals all gained during the Asian day following a plunge in oil prices, Singapore Air fell after saying its profits had declined because of a higher bill for buying kerosene. In New York on Tuesday, oil futures fell the most in three years after OPEC projected a darker demand outlook.

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