Singapore Airlines (SIA) has announced another record-breaking quarter, with net profits up 98.4% from the same period last year to SGD 734 million (USD 552 million).
It reached a passenger load factor (PLF) of 88.9% for the quarter, which is also a record thanks to high passenger demand on the majority of its routes.
Singapore Airlines, along with its financial results, published a business update that included ambitions to extend its network. It would include more flights to and from Indian cities.
Singapore Airlines, which takes pride in being the “most awarded airline in the world,” recently took home the title of best airline in the world for 2023 from Skytrax. Many people refer to the Skytrax award as the “Oscars” of the aviation sector. It was recognized as the world’s top airline for the last time in 2018.
Singapore Airlines reported overall revenue of SGD 4,479 million (USD 3,368 million) for the first quarter that ended in June 2023, up SGD 551 million (14% from the same period last year).
Revenue from passengers carried increased by 37.4% to SGD 1,001 million, whereas revenue from cargo fell by 50.6% to SGD 555 million as a result of weaker demand and increased market freight capacity.
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