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SIA reverses into the black with $370 mil net profit for 1QFY2023

Felicia Tan
Felicia Tan7/28/2022 05:58 PM GMT+08  • 3 min read
SIA reverses into the black with $370 mil net profit for 1QFY2023
During the quarter, the airline’s operating profit stood at $556 million making this SIA’s second-highest quarterly operating profit in its history. Photo: Bloomberg
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Singapore Airlines (SIA) has reversed into the black with a net profit of $370 million for the 1QFY2022/2023 ended June, compared to the $409 million loss in the 1QFY2021/2022 and compared to the $210 million loss in the 4QFY2021/2022.

The higher net profit was mainly due to the better operating performance and the absence of non-cash impairment charges.

During the quarter, the airline’s operating profit stood at $556 million making this SIA’s second-highest quarterly operating profit in its history after its highest ever quarterly operating profit of $675 million in the 3QFY2007/2008.

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