Singapore Airlines hails record half-year airline profit

Thursday, 07 Nov, 2023 0

Strong continued demand has fueled record half-year airline profit for Singapore Airlines parent SIA Group.

SIA credits the rebound in passenger traffic to North Asia along with the full reopening of China, Hong Kong, Japan, and Taiwan.

SIA and sister brand Scoot carried 17.4 million passengers in the first six months of the year, an increase of 52.3% year-on-year.

Passenger traffic grew 38% from a year ago, outpacing the capacity expansion of 29 %.

That pushed up the two airlines’ passenger load factor (PLF) by 5.8%.

Individually, SIA and Scoot achieved record passenger loads of 88.0% and 91.3% respectively.

Overall, the Group recorded an operating airline profit of $1.554 billion, $320 million higher than a year earlier.

The Group posted a net profit of $1,441 million.

SIA added three aircraft to its operating fleet in the second quarter.

These comprise one Airbus A350-900 and two Boeing 787-10s.

The combined fleet is now 202 aircraft including seven freighters.

The Group has another 96 aircraft on order.

The Group’s passenger network now covers 119 destinations in 36 countries and territories.

Learn more about : Singapore Airlines ( Asia Pecific )

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.

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