Singapore Airlines Reports Significant Drop in Q2 Net Profit Despite Revenue Growth; Announces Plans for Interim and Special Dividends

Financial Performance: Singapore Airlines reported an 82.1% drop in net profit to S$52 million for Q2, while operating profit rose 22.5% to S$398 million, driven by increased passenger traffic and total revenue growth of 2.2% to S$4.89 billion.

Dividends Announced: The airline declared an interim special dividend of 3 cents per share and an interim dividend of 5 cents per share, with plans for a total special dividend package of 10 cents per share over three years, subject to shareholder approval.

Future Outlook: The company anticipates resilient demand for air travel in the upcoming third quarter, bolstered by the year-end peak season, although the air cargo segment faces uncertainty due to changing trade policies.

Passenger and Cargo Revenue: Passenger flown revenue increased by 2.2% year-over-year to S$3.92 billion, while cargo flown revenue decreased by 3.7% due to lower loads and yields.