Singapore Airlines posts first quarterly profit since pandemic began

Singapore Airlines Ltd. swung to its first quarterly profit since the coronavirus pandemic began, thanks to significant growth in passenger numbers and record cargo revenues.

The Singapore flag carrier posted a net profit of 85 million Singapore dollars (US$63.1 million) for the third quarter ended Dec. 31, it said in a filing Thursday. This compared with a loss of S$142 million a year earlier, when border restrictions in many countries severely constrained international travel.

The airline said third-quarter revenue more than doubled on year to S$2.32 billion from S$1.07 billion.

Singapore’s launch of quarantine-free travel arrangements was a “game-changer” that helped unlock pent-up demand during the year-end travel season, while its cargo segment was lifted by robust demand amid an industry capacity crunch, the company said.

Singapore Airlines said it expects air cargo demand to ease in the fourth…

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