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SIA Group Q1 Profit Surges
(RTTNews) - SIA Group Ltd. reported that its first-quarter net profit soared 98.4 percent to S$734 million from S$370 million in the prior-year quarter. This was primarily driven by robust demand for air travel through the mid-year school holidays and the start of the summer travel season.
Operating profit grew 35.8 percent to S$755 million from S$556 million in the prior year.
Total group revenue for the quarter increased 14.0 percent year-on-year to S$4.48 billion, as higher passenger flown revenue was partially offset by a decline in cargo flown revenue.
The SIA Group said its capacity remains on track to reach an average of around 90 percent of pre-Covid6 levels by March 2024.
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