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02-07-2008, 07:41 PM

kohstersg

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Singapore Air down on Cathay profit warning

Singapore Airlines tumbled by as much as 2.7 percent to hit a 15-week low after Cathay Pacific warned investors of "disappointing" first-half earnings due to soaring fuel prices. Cathay Pacific, Asia's third most valuable carrier, gave its profit warning after it was forced to pay 60 percent more for jet fuel in the first six months. If the crude prices continue to rise, then the stock may see further downgrading.

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