Singapore Airlines posts Q3 profit rise on strong travel demand

By Thomson Reuters Feb 20, 2024 | 3:29 AM

(Reuters) -Singapore Airlines Ltd (SIA) reported a 4.9% jump in its quarterly net profit on Tuesday, boosted by a strong air travel demand in key markets.

Demand for air travel remained robust in the quarter due to a rebound in air travel in North Asia as China, Hong Kong, Japan, and Taiwan fully reopened following the end of Covid curbs, the company said in a statement.

The city-state’s national carrier reported its net profit rose to S$659 million ($489.82 million) in the third quarter ended Dec. 31 from S$628 million a year ago.

Its revenue rose 4.9% to S$5.08 billion, the company said.

($1 = 1.3454 Singapore dollars)

(Reporting by John Biju and Adwitiya Srivastava in Bengaluru; Editing by Janane Venkatraman)