SIA’s 2HFY2024 earnings up just 0.3% y-o-y; ends full year at a record

Singapore Airlines (SIA) group has reported earnings of $1.2 billion for its 2HFY2024 ended March, up just 0.3% y-o-y. Revenue in the same period was up 5.3% y-o-y to $9.85 billion, as air travel demand, while still growing, eased off somewhat amid more competition.

For the full year, the flag carrier was able to report record earnings of $2.68 billion for its FY2024, up 24% y-o-y, with some lift from one-offs amid a sustained recovery of the industry. Excluding the exceptional items, SIA’s operating profit for the year was up just 1.3% to $2.73 billion.