Singapore Airlines Ltd. (SINGF, C6U.SI) on Thursday reported sharply lower net profit in its second quarter, while operating profit climbed with higher passenger traffic.
Further, the flag carrier of Singapore announced an interim special dividend as well as an interim dividend.
Looking ahead, the company noted that demand for air travel remains resilient heading into the third quarter of FY2025/26, supported by the year-end peak.
The air cargo segment remains uncertain amid shifting trade policies and market dynamics.
In the second quarter, net profit fell 82.1 percent to S$52 million from last year's S$290 million. The fall was largely due to the share of results of associated companies and the lower interest income.
Operating profit, however, climbed 22.5 percent to S$398 million from S$325 million a year ago.
Total revenue improved 2.2 percent to S$4.89 billion from S$4.78 billion a year ago.
Passenger flown revenue increased by 2.2 percent year-over-year to S$3.92 billion. The company reported 5.1 percent rise in passenger traffic amid weaker yields.
Cargo flown revenue was down 3.7 percent from lower loads and yields.
Further, the firm said it plans a special dividend package of 10 cents per share annually over three financial years, amounting to about S$0.9 billion over the three years.
As the first payment from this package, the Board has declared an interim special dividend of 3 cents per share. The second tranche of 7 cents per share for FY2025/26 is subject to shareholders' approval at the Annual General Meeting in 2026.
The Board has also declared an interim dividend of 5 cents per share for the half-year. The interim and special dividends will be paid on December 23 to shareholders as of December 8.
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