Singapore Airlines has achieved a record net profit of $2,675 million for the fiscal year 2023-2024. Additionally, SIA’s operating profit also increased by $36 million or 1.3% from a year before, reaching a record $2,728 million.
In a press release by Singapore Airlines, the group reports that this achievement marks the highest full-year operating and net profits in the SIA Group’s history, driven by robust demand for air travel leading to record passenger revenue and load factors.
The group also mentioned that the airline industry is encountering ongoing challenges, such as escalating geopolitical tensions, an unpredictable macroeconomic environment, supply chain limitations, and significant inflation in various regions worldwide. Despite that, Singapore Airlines reassured that it is “well-positioned to seize emerging growth opportunities and navigate uncertainties thanks to its strong foundations and long-term strategic initiatives.”
“The SIA Group is grateful for the strong support from all customers, both in Singapore and around the world, as well as all stakeholders including our shareholders, partners, and staff,” they concluded the press release.
Meanwhile, a recent CNN report stated that Singapore Airlines is reportedly awarding its employees a bonus worth nearly eight months’ salary following this achievement. The information came from a confidential source. Singapore Airlines has not yet responded to this report.
