Singapore Airlines Group sees record half-year results on ‘robust’ summer demand

Singapore Airlines Group achieved record half-year financial results on the back of “robust” demand continuing into the northern hemisphere summer.

This was led by a rebound in passenger traffic to north Asia with the full reopening of China, Hong Kong, Japan and Taiwan. 

SIA and low-cost arm Scoot carried 17.4 million passengers in the first six months of 2023-24 financial year, an increase of 52.3% year-on-year. 

Passenger traffic outpaced capacity expansion, resulting in the group load factor rising by 5.8 percentage points to a record of 88.8% for the six months.

Group revenue rose $745 million to $9.1 billion, resulting in the net profit improving by 55.4% to $1.4 billion or $514 million more than the previous year on the strong operating performance.

The group’s passenger network covered 119 destinations in 36 countries and territories, with SIA serving 75 destinations and Scoot 67 at September 30 with a fleet of 195 passenger aircraft, with 96 more on order.

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