Singapore Airlines (SIA) has achieved record profits for the third consecutive year. The full-service carrier has posted a net profit of S$2.778 billion for FY 2024/25.
This marks a 3.9% increase from SIA’s net profit for FY2023/24, which was S$2.675 billion, and follows the S$2.16 billion profit it made for FY2022/23.
In recognition of its staff’s dedication and hard work in the past financial year, the company will be giving out a profit-sharing bonus of 7.45 months to its employees, The Business Times reported.
A spokesperson told the publication that the annual profit-sharing payout is determined by a longstanding formula that has been agreed with staff unions. In FY2023/24, SIA’s staff received a profit-sharing bonus of 7.94 months.
According to the airline, its record annual net profit for the past financial year was boosted by a one-off S$10.98 billion non-cash accounting gain from the completion of the merger between Air India and Vistara in November 2024.
Revenue also rose 2.8% to S$19.54 billion, driven by “resilient demand for air travel and cargo uplift.” SIA and its budget arm, Scoot, carried a record 39.4 million passengers in the financial year, marking an 8.1% increase from FY2023/24.
However, lower air fares, due to increased competition, had weighed on its operating profit. SIA declared a final dividend of S$0.30 per share, lower than the S$0.38 it declared a year earlier.
Looking ahead, SIA cautioned that the global airline industry faces “a challenging operating environment amidst changing tariff policies and trade tensions, economic and geopolitical uncertainties, and continued supply chain constraints”.
Recognising that these factors could affect both consumer sentiment and business confidence, SIA said it will remain vigilant, closely track developments, and be ready to respond “swiftly” to market conditions.
The airline will also leverage its “dual brand portfolio, well-diversified global network, robust balance sheet, talented and dedicated workforce, and industry-leading digital capabilities” to navigate the potential challenges ahead.
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Featured Image Credit: Singapore Airlines
