SIA posts record net profit for FY2024, proposes higher dividend of 38 cents per share

SINGAPORE – Singapore Airlines posted a record full-year net profit on May 15 and proposed a higher dividend payout.

Sales from cargo fell around 40 per cent to $2.1 billion. SIA said while loads increased 1.7 per cent due to the strong demand from the e-commerce segment, yields were 42.2 per cent lower than a year earlier but almost 30 per cent above pre-pandemic levels. SIA and its low-cost carrier Scoot carried 36.4 million passengers, up 37.6 per cent on a year earlier.

Passenger yields will likely continue to moderate, due to airlines increasing capacity, especially in the Asia-Pacific.

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