Singapore Airlines Ltd (SIA) reported a 4.9% increase in its quarterly net profit, with a net profit of S$659 million, driven by strong air travel demand in key markets. Despite this growth, the airline missed Q3 profit expectations and expressed concerns over increasing competition. Additionally, the company's outlook was dampened by warnings of ticket price pressures due to rising costs, leading to its shares going down 8% overseas and nearly 10% overall. This negative sentiment overshadowed the Singapore Airshow, where the airline's performance and future prospects were a focal point.
Sources
Reuters Business
A warning from home carrier Singapore Airlines that ticket prices were coming under pressure as costs are also rising sent its shares down nearly 10%, casting a shadow over the Singapore Airshow #SGAirshow2024. More here: https://t.co/dk5Ypmotzr
Reuters A warning from home carrier Singapore Airlines that ticket prices were coming under pressure as costs are also rising sent its shares down nearly 10%, casting a shadow over the Singapore Airshow #SGAirshow2024 https://t.co/KEZF4LLaBN
- Reuters
Singapore Airlines outlook warning casts a shadow over air show https://t.co/cGvt57Lymf https://t.co/aM5hoPBIQR
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