Singapore Airlines reports first half results

Monday, 10 Nov, 2024 0

Singapore Airlines Group carriers SIA and Scoot carried 19.2 million passengers in the first half of 2024, a 10.8% year-on-year increase.

However due to capacity expansion of 11%, load factor dipped by 2.4% to 86.4%.

SIA says demand for air travel remained healthy in the first six months as group revenue rose $335 million (+3.7%) to $9,497 million.

Passenger flown revenue was up $118 million it said.

Still increased competition impacted its yields, which fell 5.6%.

Despite the impact of general price inflation, the Group kept the rise in non-fuel costs to be largely in line with the 10.6% growth in overall capacity.

Overall, the Group recorded an operating profit of $796 million in the first half which is down $758 million from the previous year.

The Group posted a net profit of $742 million, $699 million less than the previous year primarily due to the weaker operating performance.

Other contributing factors included lower net interest income and a loss on disposal of aircraft, spares, and spare engines versus a gain last year.

As of 30 September 2024, Group shareholders’ equity was $13.7 billion, a $2.6 billion decline from 31 March 2024, largely due to the redemption of all remaining Mandatory Convertible Bonds (MCBs) in June 2024.

As of 30 September 2024, the Group’s passenger network covered 127 destinations in 36 countries and territories.

SIA served 78 destinations while Scoot served 71.

Learn more about : Singapore Airlines ( Asia Pecific )

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

Travel specialists founded the company in 1999 as AC Tours. Since then we have grown and expanded to incorporate four...

River cruising is a treat for the senses, allowing you to see, touch, feel and experience the world like never...

Family-owned Olympic Holidays has been arranging holidays to Greece, the Greek islands and Cyprus for more than half century. The company is unrivalled...

Centara Hotels & Resorts is Thailand’s leading hotel operator. Its 93 properties span all major Thai destinations plus the Maldives,...

Intrepid Travel is a world leader in sustainable experience-rich travel that has been taking travellers to discover the world’s most amazing places...

Virtuoso is the leading global network of agencies specializing in luxury and experiential travel, with more than 20,000 advisors. We...

We are a small-group adventure travel operator offering more than 750 tours in 100 countries, on all seven continents. Our...

Located in the Mediterranean and connecting Asia and European continents that are separated by the famous Bosphorus, Türkiye is a...

Located in the heart of the Northeast and within easy driving distance of a third of the population of the...

Some describe it as a natural playground. Some say, it’s simply unique as it offers a great array of travel...

ITB Asia, Asia’s Leading Travel Trade Show, is an annually held B2B trade show and convention for the travel industry; it is designed...

Princess Hotels & Resorts is a hotel chain specialising in holiday and urban hotels located in first class tourist destinations,...

Wonderful Indonesia Indonesia is a country blessed with countless wonders. What makes this country unique is its diverse culture and...

We work with reliable data providers with global coverage, that guarantee data representativeness as well as compliance with International Personal...