Singapore Airlines and low-cost subsidiary Scoot have reported their highest half-year revenues and profits, thanks to the rebound of traffic to North Asia. The HY1 operating profit of $1.554 billion is up 25.9 percent year on year. Demand remains strong, but Singapore Airlines is concerned about the effects of over-capacity in the region and will adjust capacity when needed.
Singapore Airlines Group reported a net profit for March-September of $1.441 billion, up 55.4 percent from last year’s $927 million. This included the effects of net interest income versus net finance charges last year (+$222 million) and share of profits versus share of losses of associated companies last year (+$87 million), partially offset by a higher tax expense (-$118 million).
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016.
Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.
