Singapore Airlines reported passenger traffic up 10% in the first half of 2024 but saw load factor drop due to seat capacity increase

Singapore Airlines (SIA) reported a half-year profit on Friday that nearly halved year-on-year, reflecting intensifying market competition coupled with higher fuel costs and expenses. Airlines globally have ramped up the number of flights and routes to cater to robust air travel demand,

Singapore Airlines Ltd. signaled profitability will remain under pressure despite expected “robust” demand for travel in the second half of the fiscal year, as it reported a slump in profit.

Singapore Airlines reported a slump in half-year earnings on Friday, reflecting stiff competition and higher costs, but added that it will post a gain of S$1.1 billion ($832.45 million) once the Air India-Vistara merger is completed.