Singapore Airlines (SIA) Reports Record Revenue of SG$20.5B

AI Summary

Singapore Airlines (SIA) reported record revenues of SG$20.5 billion ($16.06 billion) for the financial year ending March 31, with a 39% increase in operating profit to SG$2.38 billion. Despite this, net profit fell 57.4% year-on-year to SG$1.18 billion due to losses linked to Air India and a previous accounting gain. Earnings per share reached 38.4 Singapore cents, exceeding the expectation of 35 cents. SIA's investment in Air India, which included SG$360 million in cash, aims for long-term profits despite current operational challenges and industry hurdles.