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SIA Subtracts in Early Trading Despite Better-Than-Expected ~4% Full-Yr NP Growth; Staff Awarded 7.45-Mth Bonus
Singapore Airlines (SIA) announced yesterday (15th) its results for the fiscal year ended March. Its total revenue rose by 2.8% YoY to a record high of SGD19.54 billion, while its ...
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SIA Subtracts in Early Trading Despite Better-Than-Expected ~4% Full-Yr NP Growth; Staff Awarded 7.45-Mth Bonus
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Singapore Airlines (SIA) announced yesterday (15th) its results for the fiscal year ended March. Its total revenue rose by 2.8% YoY to a record high of SGD19.54 billion, while its operating profit fell by 37.3% to SGD1.709 billion.

The airline's net profit also climbed by 3.9% to a new record of SGD2.778 billion, beating market expectations of a drop to SGD2.36 billion. The net profit growth was mainly driven by a one-off, non-cash accounting gain of SGD1.1 billion from the merger of Vistara and Air India completed last November.

SIA employees will receive a bonus equivalent to 7.45 months' salary, slightly lower than last year's 7.94 months, according to Lianhe Zaobao.

SIA's share price was slightly soft this morning (16th). It settled the midday down by 0.6% at SGD6.84.

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