SIA reported a 59% decline in net profit for the second quarter fiscal year 2024/25, as a decline in passenger yields and an increase in expenditure weighed on earnings. Singapore Airlines (SIA) 2Q FY2024/25 earnings highlights SIA announced its earnings for the second quarter of fiscal year 2024/2025, for the three months ending September 2024. Key highlights include:

• Operating profit dropped 59.3% YoY to $325M, with net profit falling 59.0% to $290M due to yield pressure and higher costs.
• Passenger flown revenue declined 0.9% despite capacity expansion of 9.7%, with yields down 6.5% and passenger load factor decreasing 2.8 percentage points to 85.8%
• Total expenditure increased 14.7% to $4,454M, driven by higher net fuel costs (+10.6%) and non-fuel expenditure (+16.6%)
• Balance sheet shows reduced cash position of $9.0B (-$2.2B) following MCB redemption, with debt-equity ratio increasing to 0.96x
• Maintained interim dividend at 10 cents per share

Source: SIA SIA reported a total revenue of $4.78 billion in 2Q 2024/25, reflecting a modest increase of 2% compared to the same quarter last year....