Singapore Airlines (SIA) has reported a 78% rise in net profit for its second quarter*.
This reminded of a story in the New York Times, some time back, that Delta Airlines by slicing an ounce off its on-board steaks saved US$250,000. It even calculated that removing a single strawberry from its First Class salads would save US$210,000.
Talking after looking after the pennies, and the dollars will look after themselves.
In investing, John Bogle, the founder of indexer Vanguard, keeps stressing the importance of buying funds that charge low fees. The expenses saved when compounded over time adds to performance. Besides most active fund mgrs underperform the market., so they mare a waste of money. Indexers charge very little in comparison with active managers.
*Asia’s second biggest carrier was boosted by the sale of aircraft, spare engines as well as increased passenger traffic.
The firm posted a total net profit of $128.6m (£80.9m) for the quarter, up from $72.1m a year earlier.
But it warned it was facing tough competition and a strong Singapore dollar. (BBC report)