(Nov 11): Singapore Airlines Ltd returned to profitability in the second quarter as strong travel and cargo demand helped temper elevated costs.

Net income quadrupled to S$210 million (RM667.12 million) in the three months ended Sept 30, the carrier said Wednesday. Revenue climbed 14% to S$5.6 billion on a combination of higher fares, resilient passenger demand and a strong pickup in air cargo volumes driven by the AI boom.

Operating profit, which reflects the airline’s core business, grew year-on-year to S$463 million. Losses from associates, including Air India, shrank by S$110 million from a year earlier. The company does not give a breakdown of its share of losses in Air India, of which Singapore Air owns a 25.1% stake, and is coming off a record loss of more than US$2.3 billion (RM9.37 billion) last fiscal year.  

Singapore Air paid S$436 million more than the same time last year in net jet fuel costs, inclusive of hedging.

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