United Kingdom
United States
Asia Pacific
SIA Group posts highest net profit
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.
Related News Stories:
Learn more about : Singapore Airlines ( United Kingdom )
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Scammed passenger goes on airport rampage
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
The Northern Lights in Fairbanks