By Kavita Mistry 
Singapore Airlines (SIA) Group has announced record financial performance for the financial year 2024/25, with net profit reaching USD 2.8 billion, a 3.9 per cent increase from the previous year. This performance was significantly driven by a one-off non-cash accounting gain of USD 1.1 billion from the completion of the Air India-Vistara merger in November 2024.
The Group’s total revenue for the year grew by 2.8 per cent to USD 19.54 billion, supported by strong passenger and cargo demand. SIA and Scoot carried a record 39.4 million passengers, marking an 8.1 per cent increase. However, passenger yields fell by 5.5 per cent due to heightened competition, which also impacted the Group’s operating profit, which declined by 37.3 per cent to USD 1.7 billion.
Cargo flown revenue rose by 4.4 per cent, driven by e-commerce and perishables, while cargo yields dropped 7.8 per cent amid increased competition. Total expenditure for the year increased by 9.5 per cent to USD 17.83 billion, with fuel costs rising by 6.1 per cent. The Group’s strategic cost management, including digital initiatives and productivity improvements, helped mitigate some of the cost pressures.
The SIA Group continues to strengthen its premium positioning, highlighted by a USD 1.1 billion investment in new long-haul cabin products for Airbus A350-900 aircraft and a USD 45 million transformation of its SilverKris and KrisFlyer Gold lounges at Changi Airport Terminal 2. The Group also launched new partnerships, including a revenue-sharing agreement with All Nippon Airways (ANA) from September 2025.
The Group’s dual-brand strategy with SIA and Scoot, along with its diversified network across 128 destinations in 36 countries, has positioned it to navigate global challenges. SIA Group maintains one of the strongest balance sheets in the industry, with a shareholder equity of USD 15.7 billion and access to USD 3.3 billion in undrawn liquidity.
