Revenue grew to $9.5 billion, up 4.7% y-o-y. Increased competition and higher passenger capacity in key markets, however, exerted pressure on yields — which fell 5.6%. On the cargo front, yield was 13.4% lower amid the continued recovery in bellyhold capacity.
Expenditure grew 14.4% y-o-y to $8.7 billion, driven by a 19.6% increase in net fuel cost and a 12.1% increase in non-fuel expenditure.
Net fuel cost reached $2.73 billion due to the higher volume uplifted and lower fuel hedging gain, slightly offset by a 0.4% fall in fuel prices.
To this end, operating profit fell 48.8% y-o-y to $796 million.
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SIA is declaring an interim dividend of 10 cents per share for the half year ended September 30, payable on December 11 to shareholders as of November 27.
While the demand for air travel is expected to be robust in its 2HFY2024/2025, the operating landscape will continue to be competitive, the company says in its outlook. As such, SIA will remain nimble and agile, adjusting its passenger network and capacity to match evolving demand patterns.
Shares in SIA closed 4 cents lower or 0.6% down on Nov 8 to $6.45.
