Singapore Airlines is a leading global airline headquartered in Singapore, renowned for its exceptional service, modern fleet, and commitment to sustainability. Here's an overview of its recent performance and initiatives:
📊 Financial Performance (FY2023–2024)
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Net Profit: SGD 2.675 billion (approximately USD 1.98 billion), a 24% increase from the previous year. (WSJ)
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Revenue: SGD 19.01 billion, marking a 7% rise year-over-year.(WSJ)
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Operating Profit: SGD 2.73 billion, up 1.3%, driven by reduced fuel costs.(WSJ)
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Passenger Load Factor: 88%, indicating strong demand, especially in North Asia.(WSJ)
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Employee Bonuses: Staff received bonuses equivalent to 6.65 months' salary, plus an additional 1.5 months as an ex-gratia payment related to the pandemic. (news)
✈️ Fleet Overview (as of December 2024)
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Total Aircraft: 151 passenger aircraft and 12 freighters.(Wikipedia)
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Active Fleet: 138 aircraft in service.(Mainly Miles)
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Key Aircraft Types:
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Airbus A350-900: 34 units(Mainly Miles)
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Airbus A380-800: 12 units
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Boeing 787-10: 26 units(Mainly Miles)
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Boeing 737 MAX 8: 16 units
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🌱 Sustainability Initiatives
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SAF Usage Target: Aiming for 5% of total fuel requirements from Sustainable Aviation Fuel (SAF) by 2030. (Singapore Airlines)
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Collaborations: Partnered with Cathay Pacific to advocate for SAF development and adoption in the Asia-Pacific region. (Singapore Airlines)
📉 Recent Challenges
In the first half of FY2024 (April–September), Singapore Airlines reported a 48.5% decline in net profit to SGD 742 million, despite a 3.7% increase in revenue. This downturn was attributed to rising fuel and operational costs, increased competition, and a 5.6% decrease in passenger yield. The airline also faced challenges from the merger of Vistara and Air India, in which it holds a 25.1% stake. (Reuters)