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Singapore Airlines reports record quarterly revenue

Singapore Airlines on February 20 reported a record quarterly revenue stemming from robust demand for air travel at the end of last year.

Singapore Airlines posts a net profit of 1.63 billion SGD (1.22 billion USD) for the fourth quarter of 2024. (Photo: simpleflying.com)
Singapore Airlines posts a net profit of 1.63 billion SGD (1.22 billion USD) for the fourth quarter of 2024. (Photo: simpleflying.com)

Singapore (VNA) – Singapore Airlines on February 20 reported a record quarterly revenue stemming from robust demand for air travel at the end of last year.

According to the report, the airline posted a net profit of 1.63 billion SGD (1.22 billion USD) for the fourth quarter of 2024, double from the profit of 659 million SGD of the 2023 same period.

About 1.10 billion SGD of that amount was due to a one-off gain from the Air India-Vistara merger.

Its cargo revenue in the last quarter of 2024 grew by 9.7% year-on-year and was stronger than a 1.7% growth in passenger revenue for the quarter, bolstered by strong e-commerce activity, more freighter charters, and a boost in perishable goods transportation.

Its capacity expansion outstripped passenger growth, putting downward pressure on air fares.

Singapore Airlines owned about 49% of Indian carrier Vistara. Last November, Vistara completed a merger with Air India.

The deal granted Singapore Airlines a 25.1% stake in the Air India group, while autos-to-steel conglomerate Tata holds 74.9% of the combined entity./.

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