Singapore Airlines Group (SIA Group) reported a record H1 operating profit of S$1.23bn ($876mn) and net profit of S$927mn ($658mn). In comparison, last year the airlines recorded an operating loss of S$620mn ($451mn) and net loss of S$837mn ($610mn). In the half year from April-September 2022, SIA and Scoot, its low-cost wholly owned subsidiary saw passenger volume at 11.4mn during the period, over 13x more than that of the same period last year, leading to passenger revenues of S$5.98bn ($4.3bn). Cargo revenues rose 12% YoY to S$2.1bn ($1.5bn) with total revenues jumping over 2x to S$8.4bn ($6bn). These strong results come after the country opened its borders post the pandemic, that saw a large influx of travelling population.
SIA’s USD 3.375% 2029s were up 1.1 points to 87.53, yielding 5.81%.
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