UPDATE 1-Singapore Airlines swings to Q2 profit, restores dividend as travel demand rebounds

Nov 4 - Singapore Airlines Ltd on Friday swung to a second-quarter profit and declared its first dividend in three years as international borders reopened and travel demand rebounded strongly in the peak summer period.

It also declared an interim dividend of 10 Singapore cents per share, its first since November 2019 when it declared 8 Singapore cents apiece. SIA benefited from strong passenger demand over the peak summer period, which led to high ticket prices because there is less capacity available than before the pandemic.

Singapore's flagship carrier, however, warned that cargo demand in the third quarter could be weaker from a year ago as this year's traditional air cargo peak period is expected to be muted.

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