Singapore Airlines posts biggest profit ever

Zurich, Switzerland - December 27, 2009: Airplane Boeing 777-300 of Singapore Airlines departing Zurich airport.
Edited by Travel Weekly


    Singapore airlines posted its largest profit in the 76 year history of the airline with a net profit of SD $2.16 billion (AUD$2.43 billion).

    The figures are largely bolstered from the return of flights around east Asia, in particular China, Japan and South Korea, as they have all ‘re-opened’ this year following the COVID pandemic. 

    Consolidated revenue for Singapore Airlines and its low cost subsidiary, Scoot reached SD $17.8 billion (AUD$ 19.99 billion), compared to SD $7.6 billion (AUD$ 8.53 billion) in the same period the previous year. 

    Passenger revenue rose from SD $2.8 billion (AUD$ 3.14 billion) to SD $13.4 billion (AUD$15.05 billion) with a total of 2.6 million passengers carried in the FY 2022-23 with a load factor of 85.8 per cent for SIA and 83.9 per cent for Scoot. 

    Figures are expected to rise for the carrier as capacity in countries like China is quickly  growing. Scoot has resumed its flights to Haikou, Ningbo and Xi’an in April, and to Nanning and Shenyang in May, and will add Jinan and Nanchang over the summer. 

    The low cost airline has also increased its flights to Athens, Penang, Perth, Taipei and Hokkaido (as well as a range of other destinations) while Singapore Airlines will return to Barcelona, Frankfurt and Rome in the summer months to meet customer demand. 

    Whilst the outlook is positive (forecasts show SIA will reach 83 per cent of its 2019 number in FY 2023-24) it is also wary of the geopolitical issues that face airlines in 2023 that could, “pose challenges for the airline industry in months ahead,” a spokesperson told Airinsight.

    “Even though fuel prices have moderated in recent months, they remain at elevated levels. As competition is expected to increase with more capacity being injected on international routes, the group will monitor developments closely and be agile and nimble in its response.

    Latest News

    • Food & Beverage
    • Hotels

    Park Proxi Gibraltar Bowral announces partnership with Lotus Dining Group

    Renowned Lotus Dining Group will offer a new dining experience at Southern Highlands property, Park Proxi Gibraltar Bowral, Seibu Prince Hotels & Resorts has announced.  Scheduled to open on 1 September, Lotus will bring its acclaimed Asian cuisine to the Southern Highlands with a hyper-local twist. Diners can expect a blend of favourite Lotus dishes […]

    • Hotels

    Nozo Hotel Furano announce winter season exclusive package

    Nozo Hotel Furano in Hokkaido has announced a special invitation to Aussie and Kiwi travellers with an exclusive winter package, in anticipation of its first anniversary. The hotel are offering a 30 per cent discount on all rooms and breakfasts for seven-night stays or more. The offer marks the hotel’s milestone celebration and ushers in […]

    • Conferences

    Melbourne and Geelong convention centres pave the way for accessibility and inclusion

    The operators of Melbourne Convention and Exhibition Centre and the future Nyaal Banyul Geelong Convention and Event Centre have taken a significant step towards inclusivity with the launch of their latest Accessibility Action Plan. Welcoming visitors from diverse backgrounds, Melbourne Convention and Exhibition Trust (MCET) is committed to providing safe spaces to connect and engage. […]

    • Cruise
    • News

    AmaWaterways celebrates 22nd anniversary with offers on 2025 trips

    As AmaWaterways embarks on its 22nd year, the luxury river cruise line has announced a range of savings offers to make river cruising even more accessible to both new and experienced cruisers. Travellers planning ahead can enjoy savings of up to 20 per cent on a range of European itineraries in 2025. Solo travellers also […]