Singapore Airlines (SIA) posted its highest ever annual profit on Wednesday (May 15), as robust demand for air travel drove record passenger revenue and load factors.
Net profit improved due to better operating performance, coupled with lower expenses related to tax, Singapore's flag carrier said in its statement.
But the airline services provider also said its expenditure increased in the second half of the year, as a result of higher net fuel costs.
SIA posted net profit of S$2.68 billion (US$1.99 billion) for the year ended Mar 31, compared with S$2.16 billion a year ago.
The company also proposed a final dividend of S$0.38 per share, up from S$0.28 declared last year.
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Net profit improved due to better operating performance, coupled with lower expenses related to tax, Singapore's flag carrier said in its statement.
But the airline services provider also said its expenditure increased in the second half of the year, as a result of higher net fuel costs.
SIA posted net profit of S$2.68 billion (US$1.99 billion) for the year ended Mar 31, compared with S$2.16 billion a year ago.
The company also proposed a final dividend of S$0.38 per share, up from S$0.28 declared last year.
Continue reading...