China's reopening should inject more momentum into Singapore Airlines' financials.
Singapore Airlines Ltd (SIA) posted its first full-year profit since 2020 on Tuesday, as demand in key markets surged with the reopening of domestic borders and the easing of pandemic-related restrictions on international air travel.
The company logged a net profit of S$2.16 billion ($1.63 billion) for the year ended March 31, compared with a loss of S$962 million in the previous year.
Six analysts had, on average, estimated a profit of S$2.10 billion, according to Refinitiv IBES.
SIA’s board proposed a final dividend of 28 Singapore cents per share for the year. (Reporting by Savyata Mishra and Roushni Nair in Bengaluru; Editing by Savio D’Souza)
This article was from Reuters and was legally licensed through the Industry Dive Content Marketplace. Please direct all licensing questions to [email protected].
Skift Daily Newsletter
Get the travel industry’s daily must-read email 6 days a week
Tags: earnings, singapore air, tourism
Photo credit: A Singapore airlines Boeing 777-200 in Singapore Airlines livery. Source: Singapore Airlines Singapore Airlines