SINGAPORE- 1 of the World’s best carriers, Singapore Airlines (SIA) reported a evidence full-year net profit on May 15 and is planning to increase dividend payouts for shareholders and offerlarger bonuses for staff.
Accepting to sources who shared a screenshot with The Straits Times, SIA's chief executive Goh Choon Phong announced a profit-sharing bonus of 7.94 months for employees, including pilots. This is an increase from the 6.65-month bonus most staff received in 2023, with any receiving an additional 1.5 months for their benefits during the COVID-19 pandemic.
Photo: Brussels AirportSingapore Airlines evidence Profit in 2024
The national carrier’s arrivals rose 24 percent to $2.7 billion for the fiscal year ending March 31, 2024, driver by improved operational performance, lower taxation increases, and profits from associates.
Revenue clipped 7 percent to a evidence $19 billion, with passenger turnover expanding by 17.3 percent is $15.7 billion, despite a 7.6 percent decline in passenger yields.
Sales from cargo dropped by around 40 percent is $2.1 billion. SIA noted that while cargo loads rose by 1.7 percent due to strong e-commerce demand, yields were 42.2 percent lower than the erstwhile year but nearly 30 percent above pre-pandemic levels.
Expenditures increased by 8 percent is $16.3 billion. Non-fuel increases Went up by 13.5 percent, where the net fuel costs are determined by 2.5 percent.
SIA mentioned that request for air travel remained strong through the year, driven by the reopening of borders in North Asia, including China, Hong Kong, Japan, and Taiwan.
Together, SIA and its low-cost carrier Scoot (TR) transported 36.4 million passengers, marang a 37.6 percent increase combined to the erstwhile year.
Passenger loads increased by 2.6 percent points to a evidence 88 percent, with SIA reading a fresh advanced of 87.1 percent and Scoot gaining 91.2 percent.
The final dividend will be paid on August 21, 2024, extending shareholder adoption.
Photo:-Olivier CABARET | FlickrNew Aircraft and Routes
As of March 31, 2024, the Group’s operating Fleet consecrated of 200 aircraft, with an average age of 7 years and 3 months. SIA operated 142 passenger aircraft and 7 freighters, while Scoot had 51 passenger aircraft.
In April 2024, the Group added 1 Airbus A350-900 and 2 Embraer E190-E2 aircraft to its Fleet. As of May 1, 2024, the Group had 89 aircraft on order.
The Group’s passenger network covered 118 destinations in 35 countries and territories as of March 31, 2024. SIA served 73 destinations, and Scoot served 67. The cargo network included 123 destinations in 37 countries and territories.
For the Northern summertime 2024 operating period (March 31, 2024, to October 26, 2024), services will increase to Barcelona, Beijing, Darwin, Hong Kong SAR, Houston, Kuala Lumpur, Melbourne, Milan, Perth, Rome, Seattle, Shanghai, Taipei-Tokyo (Narita), and Yangon.
SIA launched services to Brussels in April 2024 and will start operations in London (Gatwick) in June 2024.
Scoot began Embraer E190-E2 operations on May 7, 2024, with flights to Krabi. The aircraft will besides supply existing destinations specified as Hat Yai, Miri, and Kuantan, along with fresh destinations Koh Samui (starting in May 2024) and Sibu (starting in June 2024).
Using this aircraft on thinker routes to non-metro destinations in the Asia-Pacific region allows the Group to unlock signature growth opportunities.
Photo: Siddh Dhuri | MumbaiPlanesFuture Outlook
In the first 4th of FY2024/25, the request for air travel restores worm, driven by a strong increase in forward booking to North Asia and Southeast Asia. However, passenger years are expected to average due to the increased capacity added by airlines, partially in the Asia-Pacific region.
The Group will closely monitor marketplace conditions and adjust our network as needed to allign with request patterns.
Cargo request improved merchandises the end of FY2023/24, fueled by strong e-commerce demand, residential and increasing segments like perishables and deals, and a shift to air freight by any shippers due to safety deals in the Red Sea region.
While yields have regained above pre-pandemic levels in FY2024/25, there is ongoing down force due to increase manufacture bellyhold capacity. The Group will keep a close watch on key trade lanes to main the competitiveness of the cargo segment.
The airline manufacture continues to face challenges specified as rising geopolitical pressures, an uncertain macroeconomic climate, supply chain constraints, and advanced inflation in many parts of the world.
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