Singapore Airlines Returns to Profit
- All Singapore Air units post operating profit in 1st quarter
- Business outlook for airline industry is challenging, SIA says
A Singapore Airlines Airbus SAS A380 aircraft prepares to land at Changi Airport in Singapore.
Photographer: Munshi Ahmed/BloombergThis article is for subscribers only.
Singapore Airlines Ltd. returned to a profit after a surprise loss in the last quarter, helped by a surge in the number of passengers and a recovery in the air cargo market.
The main Singapore Air brand and all other divisions, including the budget-carrier unit, the cargo unit and an engineering company, all posted a profit at the operating level in the three months ended June, helping achieve a net income of S$235.1 million ($173 million), according to a stock exchange statement. The airline posted a loss in the three months ended March, the first in three years.