Singapore Airlines (SIA) recently reported record-breaking profits, but the question now is what’s next for the airline. SIA has been focusing on cost-cutting measures and improving operational efficiency, which has contributed to its success. However, the airline still faces challenges such as rising fuel costs and competition from low-cost carriers. SIA is looking to expand its network and improve its customer experience to stay ahead. It plans to launch new routes and increase frequencies on existing ones. The airline is also investing in new aircraft and technology to enhance its services.
Singapore Airlines (SGX: C6L), or SIA, made the headlines after dishing out eye-watering staff bonuses of up to eight months as part of their annual profit-sharing bonus formula.
This was off the back of an exemplary set of results for its fiscal 2023 (FY2023) ending 31 March 2023.