SIA posts record net profit for FY2024; staff to get 8 months’ bonus

SINGAPORE – Singapore Airlines posted a record full-year net profit on May 15 and is proposing a higher dividend payout for shareholders and a fatter bonus for staff.

Sales from cargo fell around 40 per cent to $2.1 billion. SIA said that 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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SIA posts record net profit for FY2024, proposes higher dividend of 38 cents per shareEarnings at the national carrier up 24% to $2.7 billion for the 12 months to March 31, 2024.
Source: The Straits Times - 🏆 8. / 63 Read more »

SIA Group's cargo business marks significant growth in MarchpstrongThe airline's cargo load factor rose to a monthly high of 60.0% for FY23/24./strong/p pSingapore Airlines Group (SIA Group) saw a 20.7% YoY uptick in its passenger volume in March, carrying 3.3 million passengers last month. /p pApart from passenger volume, the group’s passenger traffic also increased 13.9% YoY to 12.7m.
Source: SBRMagazine - 🏆 13. / 51 Read more »