SINGAPORE: Singapore Airlines (SIA) reported a record annual net profit of S$2.78 billion for the year ending March 31, aided by a S$1.1 billion one-off gain from the merger of Vistara and Air India. However, operating profit fell 37% to S$1.71 billion due to a 5.5% drop in passenger yields amid increasing competition and rising costs. SIA remains cautious about the challenging airline industry environment, citing tariff policies and trade tensions, while also recognizing new opportunities from shifts in global markets.
Source: Reuters/CNA/dy
