Singapore Airlines Reports Highest-ever Profits in First Half of Fiscal Year

Singapore Airlines has announced its highest-ever interim operating and net profits for the first half of its fiscal year, thanks to record load factors. The carrier reported a net profit of 1.44 billion Singapore dollars (US$1.07 billion) in the first half, up from S$927 million the previous year. Operating profit also saw a significant increase, rising to S$1.55 billion from S$1.23 billion, while revenue grew to S$9.16 billion from S$8.42 billion.

According to a statement by the airline, the robust demand for air travel during the summer travel season played a major role in these impressive results. The reopening of China, Hong Kong SAR, Japan, and Taiwan contributed to the rebound in passenger traffic to North Asia, and subsequently led to record half-year operating and net profits for the SIA Group.

Although air-travel demand is expected to remain strong for the rest of the fiscal year, Singapore Airlines anticipates challenges due to the significant restoration of capacity across the airline industry, particularly in Asia-Pacific. This restoration may put pressure on passenger yields, but the airline remains vigilant and ready to adjust its operations accordingly.

At the same time, macroeconomic uncertainties and geopolitical risks pose ongoing challenges to the industry. In light of these factors, Singapore Airlines will closely monitor market conditions and make necessary adjustments to its operations.

Singapore Airlines has declared an interim dividend of 10 Singapore cents per share, scheduled to be paid on December 22.

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