SIA Group reports second highest quarterly operating profit

August 1st 2022

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Robust near-term passenger sales momentum produced a record first quarter operating profit, to June 30, for the SIA Group. Read More »

“Singapore Airlines and Scoot have been among the first carriers to launch services and start sales to points served out of Changi Airport since restrictions began to ease in September 2021,” a group statement said.

“Group capacity was increased to 61% of pre-pandemic levels in the first quarter of 2022-2023 allowing it to capture significant pent-up demand.

“As a result, the SIA Group posted a record first quarter operating profit of S$556 million (US400.32 million), also the second highest quarterly profit in its history. The results compare with a S$67 million loss in the first three months of this year.

“This came as demand for air travel rose sharply after Singapore fully opened its borders to vaccinated travellers in April this year.” SIA and Scoot transported 5.1 million passengers in the three months, higher by 158% in the previous quarter and 14 times higher than a year earlier, the group said.