Saturday, November 9, 2024 Singapore Airlines (SIA) Group has released its financial and operational performance report for the first half of FY2024/25, providing insights into a period marked by both growth and challenges. Despite the competitive landscape and increasing operational costs, SIA demonstrated resilience, reporting strong revenue and expanding its network and fleet. The report also highlights SIA’s strategic plans, including a significant merger with Air India and substantial fleet upgrades, aimed at positioning the airline for future growth.
For the first half of FY2024/25, the SIA Group posted a net profit of SGD 742 million, though this was down by 48.5% compared to the same period last year. This decline in profitability, despite a 3.
7% increase in total revenue to SGD 9,497 million, reflects the growing challenges within the industry. The operating expenditure increased significantly by 14.4% to SGD 8,702 million, attributed largely to rising fuel and non-fuel costs, affecting the Group’s overall profitability.
The operating profit thus saw a reduction of 48.8%, falling to SGD 796 million. Passenger numbers continued to grow, with SIA and its low-cost subsidiary Scoot collectively carrying 19.
2 million passengers, marking a 10.8% increase compared to the previous year. However, despite this increase in passenger numbers, the Group’s passenger load factor experienced a slight decline of 2.
4 percentage points, settling at 86.4%. This change was attribut.
