Singapore Airlines has announced its highest quarterly net profit in history, reaching 734 million Singapore dollars ($553.75 million) for the first quarter of its fiscal year. This figure marks a significant increase from the 370 million Singapore dollars recorded during the same period last year. The airline attributes this success to robust demand for air travel, particularly during the midyear school holidays and the beginning of the summer travel season.
Total revenue also saw a substantial rise, reaching 4.48 billion Singapore dollars compared to 3.93 billion in the previous year. Despite this positive outlook, Singapore Airlines remains cautious due to geopolitical and macroeconomic uncertainties, as well as increased competition across key markets.
In addition to these achievements, Singapore Airlines is actively pursuing a proposed merger with Air India and Vistara. Upon completion of the transaction, Singapore Airlines will hold a 25.1% stake in the enlarged Air India Group. The merger will not only enhance the group’s presence in India but also strengthen its multihub strategy, allowing it to further participate in the growing aviation market of India.
In conclusion, Singapore Airlines celebrates a remarkable financial performance for the first quarter. As air travel demand is predicted to remain strong during the summer peak, the company aims to continue navigating challenges while capitalizing on opportunities for growth.
