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Singapore Airlines net profit plunges

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SINGAPORE — Singapore Airlines (SIA) said Wednesday its financial first quarter net profit plunged 71.4% from the previous year, weighed down by lower passenger and cargo revenue. 

Net profit in the three months to June came in at S$34.8 million (892 million baht), down from S$121.8 million in the same period last year, the national flag-carrier said in a statement.

Group revenue fell 4.1% to S$3.68 billion.

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