S'pore Airlines reports net profit of S$370 million for April-June 2022

It made a recovery from a S$409 million loss in the same period a year ago.

Belmont Lay | July 29, 2022, 08:15 PM

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Singapore Airlines turned a profit for the three months ended June 2022, as a result of the sharp revival in travel demand after economies reopened their borders.

Singapore's national carrier reported a net profit of S$370 million on July 28 for the April-June period, recovering from a S$409 million loss the same period in 2021.

Sales tripled to S$3.91 billion in the quarter from a year ago.

Not smooth-sailing though

It was not all profit-making the past six months though.

SIA made its first quarterly profit in the three months to end-December 2021 as a result of Singapore expanding quarantine-free travel in October.

Higher fuel prices decimated profits as SIA went back to making losses over the next three months.

The airline said in its statement: "Travel demand is expected to remain robust in the near term as we head into the year-end holiday travel period, with forward sales staying buoyant for the next three months up to October 2022."

Moving forward, observers point out high fuel prices could still hamper earnings as airlines ramp up capacity.


Covid-19 has ravaged economies and air travel.

For the fiscal year ended March 2022, Singapore Airlines posted a net loss of S$962 million, its third consecutive annual loss.

This was despite Singapore Airlines having carried over 5 million passengers during the first quarter of 2022, 14 times higher than the year before.

Singapore has relaxed most of its restrictions since April 2022 and allowed quarantine-free entry for vaccinated travellers.

Singapore saw 1.5 million visitors in the first half of 2022, nearly 12 times more than the same period one year ago.

The arrivals mostly came from Indonesia, India and Malaysia.

The Singapore Tourism Board expects 4 million to 6 million visitors in 2022.

There were 19.12 million arrivals in 2019, and 2.74 million in 2020.

Singapore's Changi Airport said it will reopen its fourth terminal in September 2022 to handle budget flights.

Top photo via Unsplash