SIA Group airline profit soars in Q1
The SIA Group, comprising Singapore Airlines and Scoot, posted a net airline profit of S$734 million in the first three months of FY2023/24.
It represents the highest quarterly performance in its history.
It is thanks to strong school holidays demand.
Passenger capacity expanded by 32.4% year-on-year.
SIA and Scoot carried 8.4 million passengers during the quarter, which is 65.5% higher than a year ago.
Passenger traffic and load factors improved across all markets.
It achieved record quarterly passenger load factor of 88.9%.
Group revenue rose $551 million (+14.0%) year-on-year to $4.4 billion.
SIA generated a record operating profit of $738 million, while Scoot was $2.4 million.
As of 30 June 2023, the Group shareholders’ equity was $17.2 billion
Scoot expanded its footprint in China with the resumption of services to seven destinations including Shenyang, Wuhan, and Xi’an.
SIA and Scoot collectively serve 17 destinations in China.
As of 30 June 2023, the combined passenger network5 covered 116 destinations in 36 countries and territories.
Learn more about : Singapore Airlines ( Asia Pecific )
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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.
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