Highest-ever quarterly revenue driven by record passenger numbers, despite competitive pressures

Singapore Airlines (SIA) Group reported a 146.7% increase in net profit for the third quarter of FY2024/25, reaching $1.63 billion. This significant growth was largely driven by a one-off $1.1 billion non-cash accounting gain following the completion of the Air India-Vistara merger in November 2024.

Operating profit for the quarter rose 3.3% year-on-year to $629 million, supported by strong travel demand and effective cost management. The Group’s total revenue increased by 2.7% to $5.22 billion, setting a new quarterly record. Despite a 4.5% decline in passenger yields due to heightened competition, SIA and Scoot carried 10.2 million passengers, a 7.2% increase from the previous year.

Cargo flown revenue saw a 9.7% rise, driven by strong e-commerce activity, increased freighter charters, and higher perishables traffic. Cargo load factor improved by 0.9 percentage points to 56.4%, even as overall cargo yields declined.

The Group’s total expenditure rose 2.6% to $4.59 billion, with non-fuel costs increasing 8.6%. However, net fuel costs fell 9.8%, benefiting from lower fuel prices and cost management strategies.

As of 31 December 2024, the SIA Group operated 207 aircraft with an average age of 7 years and 6 months. The airline expanded its network with new routes to Beijing Daxing, Malacca, and Phu Quoc, and upcoming services to Padang, Iloilo City, and Vienna.

SIA continues to focus on strategic growth and innovation, including a $1.1 billion investment in upgrading its long-haul cabin products. The Group also strengthened partnerships with Air India, Garuda Indonesia, and other airline partners, expanding codeshare agreements and increasing connectivity in key markets.

Looking ahead, SIA expects air travel demand to remain strong, despite competitive pricing pressures, cost inflation, and geopolitical uncertainties. The Group remains committed to network expansion, cost discipline, and enhancing customer experience to maintain its leading position in the global aviation industry.

Source- Singapore Airlines