Singapore Airlines' half-year operating profit soars to its highest

It recorded a $1.23b operating profit for H1 FY22/23

Singapore Airlines (SIA) Group posted a half-year operating profit of $1.23b for H1 FY22/23, its highest in history.

The H1 FY22/23 figures also mark a rebound from the airline's operating loss of $620m in H1 FY21/22.

The airline also broke its record for its quarterly operating profit, which rose $21.9% to $678m from $556m in Q1. 

The increase in the airline's operating profit also pushed its net profit up to $927m in H1 Fy22/23, a recovery from its $837m loss in H1 Fy21/22.

With higher net profit, the group declared an interim dividend of $0.10  per share (tax-exempt, one-tier), amounting to $297 million, for the half-year ended 30 September 2022. The interim dividend will be paid on 22 December to shareholders as of 12 December.

SIA group attributed its record-breaking figures to a surge in air travel.

"This has largely come about because the Group was fast off the block in undertaking several initiatives. These include proactive fundraising, talent retention, and resource deployment in preparation for the recovery of air travel, putting it in a strong position to capture the pent-up demand," the group said.

In the six months to 30 September, SIA and Scoot carried 11.4 million passengers, which translates to a 13-fold jump from a year ago.