Singapore Airlines Group just posted its highest ever net profit
Group passenger capacity reached 79% of pre-Covid1 levels in March 2023, higher than the average for Asia-Pacific airlines.
SIA and Scoot collectively carried 26.5 million passengers, up six-times from the year before.
Passenger load factor jumped to 85.4%, which is the highest ever.
Group operating profit came in at a record $2.6 billion reversing the $610 million loss a year ago.
SIA Group net profit was $2.1 billion.
Revenue increased by $10 billion to a record $17.7 billion.
The strong demand for air travel spurred high revenue and passenger load factors, it said.
Borders fully reopened just over a year ago.
SIA and Scoot were among the first to launch flights as borders reopened, and captured the pent-up demand,” said SIA.
The Group shareholders’ equity was $19.9 billion as of 31 March 2023.
Cash and bank balances stood at $16.3 billion.
