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SIA carriers deliver huge profit surge in December quarter
February 22nd 2023
Singapore Airlines Group (SIA) booked a net profit of $S628 million (US$469 million) for the three months to December 31, more than seven times higher than the S$85 million net profit it recorded in the same months in 2021. Read More » Revenue increased 109.2%, to S$4.8 billion, SIA said in a regulatory filing. The group’s two airlines, Singapore Airlines and Scoot, expect air travel demand to be “robust” in the three months to this March 31, supported by a market recovery in East Asia after travel restrictions eased in China, Hong Kong, Japan and Taiwan. “Forward sales remain strong across all markets for leisure and business travel and in all cabin classes,” SIA said. “The group will continue to monitor demand and adjust capacity accordingly.”
