Net profit of SIA Group soars 55.4% YoY to $1.4b in 1HFY23/24

The group attributed the improvement in its bottom line to its strong operating performance.

The Singapore Airlines Group (SIA Group) saw its net profit grow by 55.4% YoY to $1.4b in 1HFY23/34.

In a bourse filing, the airline company attributed its improved bottom line to strong operating performance.

In 1HFY23/24, SIA and Scoot carried 17.4 million passengers, a 52.3% jump from 1HFY22/23.

In the same period, the airline group’s passenger traffic grew 38.0% YoY, outpacing its capacity expansion of 29.0%.

Given the higher net profit, the airline group proposed an interim dividend of $0.10 per share to be paid on 22 December.

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