Singapore Airlines seeks to provide the highest quality air transportation services and maximize shareholder and employee benefits.
Governance
Risk Management: Statement on risk management, corporate governance report, board and committee membership, and attendance details.
Financial
Financial Report: Detailed financial analytics, shareholding information, and corporate data.
Financial Summary
Revenue: $19,013 million (+7.0% from the previous year).
Net Profit: $2,675 million (+24.0% from the previous year).
Operating Profit: $2,728 million (+1.3% from the previous year).
Total Assets: $44,264.7 million (-9.9% from the previous year).
Performance Highlights
Achievements: Record revenues and profits due to post-Covid travel demand.
Innovation: Premium Economy Class revamp, new SilverKris Lounge in Perth.
Strategic Developments
Network Expansion: New services to Brussels and London Gatwick, resumed operations in China, and regional connectivity enhancement with new aircraft.
Partnerships: Agreements with Garuda Indonesia, Philippine Airlines, and others.
Multi-hub Strategy: Investment in Vistara and Air India merger.
Sustainability Initiatives
Carbon Emissions: Pledge to achieve net zero carbon emissions by 2050. Plan to use 5% Sustainable Aviation Fuel by 2030.
Community Support: Raised $2.6 million for social services in Singapore through SIA Cares.
Challenges and Future Outlook
Market Challenges: Economic uncertainties, high fuel prices, geopolitical tensions.
Future Strategy: Focus on service excellence, product innovation, and network connectivity.
Sustainability Goals: Enhance use of advanced technology for sustainability.
Significant Events
May 2024 Incident: Flight SQ321 turbulence incident resulting in one fatality.
Operational Changes: Introduction of new aircraft and routes.
Leadership and Board
Board of Directors: Details of current board members and their roles.
Corporate Governance: Commitment to high governance standards, detailed in the corporate governance report.
Review and Analysis
Quarterly Financial Performance: Detailed breakdown of quarterly results and financial strategies.
Annual General Meeting: Scheduled for July 2024, proposing a final dividend.
Conclusion
Singapore Airlines achieved record financial performance in FY2023/24 and continues to implement strategic initiatives to maintain its leadership position in the airline industry while committing to sustainability and community support initiatives.