Highlights from the 2024 Financial Report

SIA Group, the parent company of Singapore Airlines, has unveiled its full-year financial results today, announcing a record net profit of $2.8 billion. This surge was significantly boosted by a one-time accounting gain of $1.1 billion derived from the Air India-Vistara merger.

The aviation company also noted an operating profit of $1.7 billion, although lower revenues were observed due to increased competition. The resilience of SIA Group’s economic framework positions it strongly against global trade instabilities and fluctuating macroeconomic conditions.

Group Revenue Insights

• The group’s revenue reached $19,540 million, an increase of $527 million from the previous year. This growth was fueled by robust demand in air travel and cargo.
• A record 39.4 million passengers were carried, reflecting an increase of 8.1 percent. However, the passenger load factor slightly decreased due to a surge in capacity outpacing traffic growth.

Increases in Expenditure

Total expenditure rose by $1,546 million to a total of $17,831 million in 2024, attributed to various factors including expanded capacity and rising costs. Despite these increases, initiatives focused on productivity and cost management helped mitigate some financial challenges.

Fleet and Network Growth

As of March 31, 2025, SIA Group’s operational fleet included 205 aircraft, with an ongoing commitment to expand and enhance services across its extensive network.

Strategic Initiatives

SIA Group continues to forge important collaborations to improve connectivity and service offerings, positioning itself for future growth in an ever-evolving industry landscape.