News
SIA Group posts 48.5% interim profit drop; reports “competitive” operating landscape
November 11th 2024
SIA Group has booked a net profit of S$742 million (US$559 million) for the six months to September 30 against an S$1.4 billion net profit in the same six months last year. Read More » Revenue at the Singapore Airlines and Scoot carriers rose 3.7% to S$9.5 billion, the company said in a regulatory filing, adding costs were higher by 14.4% in the half-year at S$8.7 billion. “While demand for air travel is expected to be robust in the second half of the financial year, the operating landscape will continue to be competitive,” SIA said. "As the aviation industry grapples with geo-political tensions, macroeconomic uncertainty, increased competition and inflationary cost pressures, the group remains well-positioned to navigate these [circumstances] from a position of strength. Having an airline portfolio of two world-class carriers serving distinct segments gives the group the flexibility to swiftly adapt to changing market dynamics while finding ways to deepen network connectivity between SIA and Scoot.”
