The Singapore Airlines (SIA) Group reported a 3.3% increase in its operating profit for the third quarter of FY2024/25, reaching S$629m. This growth was driven by record passenger numbers, with SIA and its low-cost subsidiary, Scoot, carrying 10.2 million passengers, marking a 7.2% increase from the previous year. Despite this, passenger yields fell by 4.5% due to heightened competition.
The Group’s revenue hit a record S$5.2b, a 2.7% rise from the same period last year, bolstered by strong demand for air travel. Cargo revenue also saw a significant boost, increasing by 9.7% due to robust e-commerce activity and increased freighter charters.
Expenditure rose by 2.6% to S$4.59b, with non-fuel costs up by 8.6%. However, net fuel costs decreased by 9.8%, aided by a 20.9% drop in fuel prices. The Group’s net profit soared by 146.7% to S$1.63b, largely due to a S$1.1b non-cash accounting gain from the merger of Air India and Vistara.
SIA continues to expand its network, launching new routes and increasing flight frequencies. The Group’s fleet now includes 207 aircraft, with plans to introduce new cabin products across its Airbus A350-900 fleet. The merger with Air India, completed in November 2024, has also strengthened SIA’s presence in the Indian market.
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