Singapore Airlines reports profit for the first time since the start of the pandemic

Singapore Airlines Group (SIA) posted a net profit of $85 million at the end of the third quarter for the first time since the start of the pandemic. This was thanks to the significant increase in air travel to and from Singapore in the October-December 2021 period, as well as continued strong demand and strong returns in the cargo market.

Singapore's initiation of Vaccinated Travel Route (VTL) regulations and subsequent developments, as well as the Group's immediate sale of all existing routes, whose travel bans have been lifted, resulted in meeting pending demands during the year-end travel period. The group carried 1.1 million passengers in this quarter, which is 5 times more than the same period last year and twice as much as in the second quarter of the 2021/22 financial year. Passenger capacity (measured in terms of available seats-kilometers) grew by 183.8% on an annual basis, thanks to the increase in flights with the VTL application. At the end of this quarter, Group passenger capacity reached 45% of pre-Covid-19 levels.