SIA Posts Record $2.8b Net Profit, Staff to Get 7.45 Months' Bonus

Earnings Boosted by One-Off Accounting Gain of $1.1b from Air India-Vistara Merger

- Sue-Ann Tan

Singapore Airlines (SIA) has posted a record $2.8 billion net profit for the year ended March 31 and is said to be rewarding staff with a profit-sharing bonus of 7.45 months.

Its record profit was boosted by a one-off non-cash accounting gain of $1.1 billion from the Air India-Vistara merger, it said in a filing on the Singapore Exchange on May 15.

Group revenue also climbed 2.8 per cent from the year before to hit a record $19.54 billion, driven by resilient demand for air travel and cargo uplift, it added.

In response to queries from The Straits Times on staff bonus, SIA said it can confirm that employees will receive a profit-sharing bonus in recognition of their dedication and hard work in FY2024-25.

"This is based on a longstanding formula that has been agreed with our staff unions," SIA said, without disclosing details of the formula and bonus.

The 7.45 months' bonus is slightly lower than the 7.94 months for the year before.

The Air India-Vistara merger was completed in November 2024.

Before the merger, Vistara was jointly owned by Tata Sons and SIA. After the merger, SIA holds a 25.1 per cent stake in the enlarged Air India, allowing it to participate directly in the fast-expanding Indian aviation market.

SIA and its budget airline Scoot also carried a record 39.4 million passengers, up 8.1 per cent.

Despite carrying more passengers, passenger yields – the amount earned per passenger for each kilometre flown – dipped 5.5 per cent to 10.3 cents per revenue passenger-kilometre.

This was amid intensified competition due to industry-wide capacity injection, SIA said.