Singapore Airlines Achieves Nearly US$2 Billion Annual Profit Amid Surging Demand

• Sommana Yan
• 9 June 2024
• Local News
• 2280 Views

Singapore Airlines has reported a remarkable annual profit of S$2.68 billion (US$1.99 billion) for the fiscal year, a significant rise from the S$2.16 billion recorded the previous year. This achievement underscores the airline’s robust performance and strategic market positioning, according to CAN on 15 May 2024.

The surge in profits was primarily driven by increased demand for freight services, particularly from the booming e-commerce sector and other key industries such as food production and events. Additionally, air travel demand in the first quarter of 2024 remained robust, especially from North and Southeast Asia, further boosting the airline’s financial results.

Reflecting its strong financial health, Singapore Airlines announced a dividend of S$0.38 per share, up from S$0.28 the previous year. The company aims to sustain this growth by increasing passenger output and expanding capacity, particularly in the Asia-Pacific region.

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