Singapore Airlines Group net profit falls 38.4% YoY to $452m in Q1 24/25

The airline attributed the decline to weaker operating performance.

Due to weaker operating performance, Singapore Airlines (SIA) Group saw its net profit fall by 38.4% YoY to $452m in Q1 24/25.

In Q1 24/25,  the group’s operating profit dropped 37.7% YoY to $285m. 

In the same period, the airline reported a marginally 0.2% YoY lower cargo flown revenue of $541m and whilst the passenger flown revenue rose by 4.1% YoY to $3.8b, group passenger load factor (PLF) dipped by 2.0 percentage points to 86.9%.

Other factors that contributed to the decline in net profit include the reduction in net interest income (-$22m), a lower surplus on the disposal of aircraft, spares, and spare engines (-$8m), and a lower share of profits from associated companies (-$6m).

However, the decline in net profit was partially offset by a lower tax expense (+$41m).