DBEA55AED16C0C92252A6554BC1553B2 Clicky DBEA55AED16C0C92252A6554BC1553B2 Clicky
May 30, 2024
Singapore Airlines

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Singapore Airlines posted annual net profit of SS$2.675 billion for the 2024 fiscal year, the highest in the company’s 77 year history.  Revenues during the year rose 7%, with higher traffic in North Asia showing the largest improvement as China, Hong Kong, Japan and Taiwan fully re-opened their borders.

Robust demand resulted in record traffic, with SIA and Scoot carrying 36.4 million passengers, up 37.6% year over year.  Load factors grew to 87.1% at SIA and 91.2% at Scoot, up a combined 2.6% year over year.  Passenger yields fell 7.6% as higher capacity and increase competitiveness resulted in lower airfares.  Nonetheless, the increase in traffic and loads more than compensated for the drop in yields.

 


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Ernest Arvai
President AirInsight Group LLC