Singapore Airlines Reports Record Revenue Amidst Intense Competition
Singapore Airlines (SIA) announced record revenue of $5.2 billion for the third quarter ending December 31, 2024, driven by strong demand for air travel. However, the airline also faces increasing competition and pressure on yields.
Record Revenue and Passenger Numbers
The group’s total revenue reached a record $5.2 billion, a 2.7 percent increase year-on-year, according to a report by The Straits Times. SIA and its budget carrier, Scoot, collectively carried a quarterly record of 10.2 million passengers, a 7.2 percent increase compared to the same period last year.
Competitive Pressures and Yields
Despite the positive revenue figures, SIA experienced a 4.5 percent dip in yields – the revenue earned per passenger kilometer flown – falling to 10.7 cents. This decline is attributed to greater competition within the airline industry. The growth in passenger traffic (7.2 percent) also lagged behind the expansion in capacity (8.5 percent), indicating that the increase in passengers did not fully offset the added capacity.
Fleet Expansion and Network Growth
As of December 31, 2024, SIA and Scoot operated a combined fleet of approximately 200 passenger aircraft. The fleet grew with the addition of one Airbus A350-900 to SIA’s fleet and three Embraer E190-E2 aircraft to Scoot’s. SIA expanded its network with new services to Beijing Daxing International Airport in November 2024, while Scoot launched operations to Melaka, Malaysia (October 2024) and Phu Quoc, Vietnam (December 2024). The group’s passenger network now encompasses 129 destinations across 36 countries and territories.
Looking Ahead
Singapore Airlines anticipates continued solid demand for air travel heading into the final quarter of its financial year. However, the operating environment is expected to remain competitive. Business Traveller reports that the airline expects healthy demand to continue. SIA is also adjusting flight frequencies and increasing passenger capacity on selected routes for the 2026 Northern Summer operating season (March 29, 2026 – October 24, 2026) to meet anticipated demand. Singapore Airlines stated this in a recent news release.
Stock Performance
As of December 17, 2025, Singapore Airlines shares were trading around S$6.27, down approximately 0.48 percent, as investors considered the operational data and potential headwinds from competition, costs, and the airline’s investment in Air India. TS2 Tech provides further details on the stock performance.